Thermax surges 7% on winning Rs 546 crore order to set-up two FGD systems

The company has sealed an order of Rs 545.6 crore from an Indian power public sector company to set up FGD systems for their two units of 500 MW capacity each in the state of Uttar Pradesh.

Shares of Thermax rallied 7 per cent to Rs 1,923.55 on the BSE in Wednesday’s intra-day trade after the company announced it sealed an order worth Rs 545.6 crore from an Indian power public sector company to set up flue gas desulphurisation (FGD) systems for their two units of 500 MW capacity each in the state of Uttar Pradesh, India.

At 09:25 am; the stock traded 5 per cent higher at Rs 1,898.70, as compared to 0.04 per cent rise in the S&P BSE Sensex. It had hit a record high of Rs 1,944.80 on December 10, 2021.

The FGD systems will be installed at their plant to cut down SOx emissions and comply with the air quality standards set for the power plants. The scope of supply includes design, engineering, manufacturing, civil work, construction and commissioning of the FGD systems. The project is slated to be completed in 30 months, Thermax said in press release.

Thermax, a leading energy and environment solutions provider, is one of the few companies in the world that offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals.

In the past three months, Thermax has outperformed the market by surging 40 per cent, as against 1 per cent gain in the S&P BSE Sensex. On a one year time-frame, the stock has zoomed 104 per cent, when compared to a 24 per cent rally in the benchmark index.

On November 24, 2021, Thermax had won an order of Rs 830 crore from an Indian power private sector company to set up FGD systems for their three units of 660 MW capacity each in the state of Uttar Pradesh. The project is slated to be completed in 36 months, the company had said.