ISGEC Heavy Engg rallies on bagging order from Shree Cement

ISGEC Heavy Engineering advanced 2.90% to Rs 476.95 after the company said it received an order from Shree Cement to set up waste heat recovery boilers at their Raipur unit.

The boilers to be set up at Shree Cement's Raipur unit, will be of two types: a PH boiler to be installed at the pre-heater exhaust, and an AQC boiler to be installed at the cooler exhaust from the 10500 TPD kiln.

According to V K Luthra, business head, industrial & green energy boilers at Isgec, this is indeed a very prestigious order for us and we thank Shree Cement for once again showing confidence in Isgec's capabilities. This is the secondproject that Isgec will be successfully setting up for Shree Cement."

ISGEC Heavy Engineering's consolidated net profit rose 2.9% to Rs 64.88 crore on a 17.4% drop in net sales to Rs 1,392.46 crore in Q3 FY21 over Q3 FY20.

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

Powered by Capital Market - Live News