ISGEC Heavy Engg gains on inking license agreement with US-based BHIFW Corp

ISGEC Heavy Engineering rose 1.22% to Rs 290.90 after the company said it has signed a technology license agreement with US-based BHI FW Corporation for combustion system modifications of tangentially fired boilers.

This license agreement will enable ISGEC Heavy Engineering to utilize within India the proven BHI FW technology for engineering, designing, manufacturing, supplying and erecting tangential low NOx (TLN) equipment in order to modify combustion systems of tangential fired boilers.

"There is increased interest for this technology by our clients in order to comply with the latest NOx emission norms as published by the Ministry of Environment, Forest and Climate Change in India," ISGEC Heavy Engineering said in a statement issued during market hours today, 9 December 2020.

ISGEC Heavy Engineering's consolidated net profit jumped 71.70% to Rs 77.81 crore on a 6% decline in net sales to Rs 1,344.59 crore in Q2 FY21 over Q2 FY20.

ISGEC Heavy Engineering is a diversified heavy engineering company engaged in manufacturing and project businesses with an extensive global presence.

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