Thermax has moved higher by 3% at Rs 610 after the company said it has received an order worth about Rs 1,700 crore from a leading petrochemical company.
The order is for the design, manufacture and commissioning of 9 circulating fluidized bed combustion (CFBC) high pressure boilers of 500 TPH each for two of its plants, Thermax said in a statement.
The boilers to be commissioned at client sites with a time frame of 25-29 months will generate steam for process and power generation, it added.
The stock opened at Rs 600 and hit a high of Rs 620 on BSE after the announcements. A combined 103,165 shares have changed hands on the counter so far against an average around 50,000 shares that were traded daily in past two weeks.
The order is for the design, manufacture and commissioning of 9 circulating fluidized bed combustion (CFBC) high pressure boilers of 500 TPH each for two of its plants, Thermax said in a statement.
The boilers to be commissioned at client sites with a time frame of 25-29 months will generate steam for process and power generation, it added.
The stock opened at Rs 600 and hit a high of Rs 620 on BSE after the announcements. A combined 103,165 shares have changed hands on the counter so far against an average around 50,000 shares that were traded daily in past two weeks.