Thermax jumps 4.1% in 2 days on new order

Meanwhile, the BSE Sensex was up 27.74 points or 0.14% at 19,333.06.

On BSE, 15,000 shares were traded in the counter as against average daily volume of 7,095 shares in the past one quarter.

The stock hit a high of Rs 624.60 and a low of Rs 592.35 so far during the day. The stock had hit a 52-week high of Rs 639.90 on Monday, 3 December 2012. The stock had hit a 52-week low of Rs 388 on 20 December 2011.

The stock had outperformed the market over the past one month till 3 December 2012, gaining 4.58% compared with the Sensex's 2.93% rise. The scrip had also outperformed the market in past one quarter, jumping 24.79% as against Sensex's 11.05% surge.

 

The mid-cap company has equity capital of Rs 23.83 crore. Face value per share is Rs 2.

Shares of Thermax have surged 4.14% in two trading sessions from Rs 590.05 on 30 November 2012, after the company after market hours on 30 November 2012, said it has secured an engineering, procurement and construction (EPC) order worth Rs 503 crore from a leading Government of India enterprise for setting up a captive power plant for its new 3 million tons per annum integrated steel plant in Central India. The stock had risen 2.63% to settle at Rs 605.60 on Monday, 3 December 2012.

Thermax said it will design, engineer, construct and commission the project on a turnkey basis. The supply of equipment includes three 160 ton per hour capacity (3x160 TPH) boilers and two 40 MW each steam turbines. Steam from the boilers will be used to blow air into the blast furnace and to generate 80 MW of power. The order also includes water demineraliser plant, cooling water system, air conditioning and ventilation system, compressed air system, fire fighting facilities, emergency DG set, etc. This project is designed as a zero discharge plant and an effluent treatment plant based on reverse osmosis will recycle water, Thermax said in a statement.

Thermax said that till date it has contracted over 75 power projects on turnkey basis based on various fuels including domestic and imported coal, washery rejects, petcoke, waste heat from various processes, renewable energy including biomass and solar, waste gases, naptha and natural gas. Thermax is already executing a gas based combined cycle power project for an oil and gas major, the company said in a statement.

Thermax's net profit fell 10.5% to Rs 91.06 crore on 8.2% decline in net sales to Rs 1181.05 crore in Q2 September 2012 over Q2 September 2011.

Energy and environment major, Thermax offers integrated, innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals. The sustainable solutions Thermax develops for client companies are environment-friendly and enable efficient deployment of energy and water resources. The company's international operations are spread over Southeast Asia, the Middle East, China, Africa, Europe, United Kingdom, and the United States.

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