Thermax soars as JV bags export order worth Rs 339 crore

Thermax soars as JV bags export order worth Rs 339 crore

Sep 24,2014   09:27 Hrs IST

Thermax is currently trading at Rs. 937.05, up by 48.40 points or 5.45% from its previous closing of Rs. 888.65 on the BSE. The scrip opened at Rs. 935.00 and has touched a high and low of Rs. 950.00 and Rs. 929.20 respectively. So far 6,069 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 989.70 on 02-Jul-2014 and a 52 week low of Rs. 578.00 on 01-Oct-2013. Last one week high and low of the scrip stood at Rs. 950.00 and Rs. 843.45 respectively. The current market cap of the company is Rs. 11,165.00 crore. The promoters holding in the company stood at 61.98% while Institutions and Non-Institutions held 22.99% and 15.03% respectively. Thermax’s joint venture (JV) - TBWES has received an export order from B&W PGG for detailed engineering, manufacturing and supply of selective items for two pulverized coal-fired boilers for an international project. The contract value is approximately Rs 339 crore. Thermax Babcock & Wilcox Energy Solutions (TBWES) is a JV between Thermax and US based Babcock & Wilcox Power Generation Group, Inc. (B&W PGG). The contract, booked in the second quarter of 2014, involves detailed engineering, manufacturing and supply of boiler pressure parts, critical piping, pulverisers, plate work for casing, ducts and hoppers. The contract also includes the supply of ancillary items, including valves, dampers, expansion joints and instrumentation items. Detailed engineering and supply of material are scheduled to be completed within 21 months for the first unit and 24 months for the second unit. Thermax, a leading energy and environment solutions provider, is one of the few companies in the world that offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals.