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Shares of Isgec Heavy Engineering rallied 12 per cent to Rs 344 on the BSE in intra-day trade on Thursday on the back of heavy volumes.
At 01:23 pm, the stock was trading 10 per cent higher at Rs 337, as compared to 0.06 per cent rise in the S&P BSE Sensex. Around 655,000 equity shares, representing 0.88 per cent of total equity of the industrial machinery manufacturer, have changed hands on the BSE, so far. On an average 138,000 equity shares were traded daily in past two weeks, data shows.
In the month of December, the stock rallied 34 per cent, against 8 per cent rise in the S&P BSE Sensex. On December 17, Isgec Heavy Engineering announced that it has secured a new order valued at Rs 431 crore. The company said the said order is from KPR Sugar & Apparels Limited to set up a 10,000 TCD sulphurless sugar plant, 40 MW CoGeneration plant, 60 TPH incineration boiler and 7.5 MW power plant for zero liquid discharge system for client’s distillery plant on EPC basis.
Earlier, in a separate exchange filing, on December 12, the company announced that it has signed a technology license agreement with BHI FW Corporation of the United States (BHI FW) for combustion system modifications of tangentially fired boilers.
This license agreement will enable Isgec to utilize within India the proven foster wheeler technology for engineering, designing, manufacturing, supplying and erecting tangential low NOx (TLN) equipment in order to modify combustion systems of tangential fired boilers.
The company said there is increased interest for this technology by its 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 manufactures among other process equipment, presses, iron & steel castings, and boiler pressure parts. Isgec’s portfolio includes turnkey projects for setting up air pollution control equipment, boilers, power plants, sugar plants, distilleries, factories, industrial water treatment facilities and material handling facilities.
At 01:23 pm, the stock was trading 10 per cent higher at Rs 337, as compared to 0.06 per cent rise in the S&P BSE Sensex. Around 655,000 equity shares, representing 0.88 per cent of total equity of the industrial machinery manufacturer, have changed hands on the BSE, so far. On an average 138,000 equity shares were traded daily in past two weeks, data shows.
In the month of December, the stock rallied 34 per cent, against 8 per cent rise in the S&P BSE Sensex. On December 17, Isgec Heavy Engineering announced that it has secured a new order valued at Rs 431 crore. The company said the said order is from KPR Sugar & Apparels Limited to set up a 10,000 TCD sulphurless sugar plant, 40 MW CoGeneration plant, 60 TPH incineration boiler and 7.5 MW power plant for zero liquid discharge system for client’s distillery plant on EPC basis.
Earlier, in a separate exchange filing, on December 12, the company announced that it has signed a technology license agreement with BHI FW Corporation of the United States (BHI FW) for combustion system modifications of tangentially fired boilers.
This license agreement will enable Isgec to utilize within India the proven foster wheeler technology for engineering, designing, manufacturing, supplying and erecting tangential low NOx (TLN) equipment in order to modify combustion systems of tangential fired boilers.
The company said there is increased interest for this technology by its 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 manufactures among other process equipment, presses, iron & steel castings, and boiler pressure parts. Isgec’s portfolio includes turnkey projects for setting up air pollution control equipment, boilers, power plants, sugar plants, distilleries, factories, industrial water treatment facilities and material handling facilities.
