Thermax hits 52-week high on Rs 503-cr EPC order

The order is from the state-owned company for setting up a captive power plant for its new 3 million ton per annum integrated steel plant in Central India.

Thermax  surged 7% in morning trades after winning Rs. 503 crore EPC (engineering, procurement and construction) order from the state-owned company.

Thermax will set up a captive power plant for comapny's new 3 million ton per annum integrated steel plant in Central India.

"The company will design, engineer, construct and commission the project on a turnkey basis. The supply of equipment includes three 160 tonnes per hour capacity (3x160 TPH) boilers that use multiple fuels – blast furnace and coke oven gas from the steel process and light diesel oil – and two 40 MW each steam turbines," Thermax said in a statement.

The stock opened at Rs 602 and touched a 52-week high of Rs 640 on the BSE. A combined 88,659 shares have changed hands on the counter in opening deals on the BSE and NSE.