Thermax gains 4% after subsidiary wins Rs 293-crore order
Published On: Thursday, August 26, 2021 | By: Team KnowMyStock
Shares of Thermax gained 4 percent at Rs 1,418.55 on the BSE in intra-day trade on Thursday after Thermax Babcock and Wilcox Energy Solutions (TBWES), a wholly-owned subsidiary of the company, wins Rs 293-crore order for a boiler package comprising 3 x Oil & Gas fired boilers on EPC basis for a refinery and petrochemical complex in western India. The scope of supply includes design, manufacture, installation, erection, commissioning and testing of the 3 x oil & gas fired boilers. The turnkey project encompasses civil, structural, mechanical, E & I controls work.“TBWES has won the order in this competitive bidding project owing to its proven product experience, compliance to quality standards, manufacturing and EPC capabilities,” said Ashish Bhandari, MD & CEO, Thermax.
Overall, Thermax has been reporting order inflows in the range of around Rs 1,500 to Rs 1,700 crore from each of the last three quarters owing to a broad-based recovery in sectors, ranging from cement, steel, food & beverages, refinery etc.
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