Thermax gains on securing order worth Rs 339 crore

Thermax surged 4% after TBWES received an export order from B&W PGG worth Rs 339 crore

Shares of Thermax has surged more than 4% to Rs 926 on the BSE after Thermax Babcock & Wilcox Energy Solutions (TBWES), a joint venture of Pune based capital goods manufacturer Thermax and U.S.based Babcock & Wilcox Power Generation Group (B&W PGG), received an export order from B&W PGG for detailed engineering, manufacturing and supply of selective items for two pulverized coal-fired boilers for an international project. 

 

The contract value is approximately Rs 339 crore.

 

The contract, booked in the second quarter of 2014, involves detailed engineering, manufacturing and supply of boiler pressure parts, critical piping, pulverisers, plate work for casing, ducts and hoppers. The contract also includes the supply of ancillary items, including valves, dampers, expansion joints and instrumentation items. Detailed engineering and supply of material are scheduled to be completed within 21 months for the first unit and 24 months for the second unit.

 

The stock opened at Rs 935, touched a high of Rs 950 and a low of Rs 922 on the BSE so far. Aa total of 14,934 shares have been exchanged on the BSE so far.