Isgec Heavy leaps 9% on order wins from cement, steel sectors
Shares of Isgec Heavy Engineering rallied 9 per cent to Rs 404, also its 52-week high, on the BSE on Tuesday, after the company said it has recently received two orders – one for a Cement Waste Heat Recovery Boiler (CWHRB), and another for conducting Remnant Life Assessment (RLA) study. The company did not disclose the size of the orders.
The order for CWHRB is from a leading cement manufacturer for their plant site in Meghalaya. The company said it is committed towards the utilization of waste energy and supporting the cement Industry to generate clean or green power.
The second order is for conducting the RLA study has been received from a steel major in Jharkhand for their 3 Boilers. Indian Boiler Regulations 1950 have set certain guidelines under rule 391A, which not only help users to ensure the health of their Boilers, but also ensure safe operation of the Plant. Isgec is certified by the Central Boiler Board to conduct RLA studies under these norms, the company said in exchange filing.
Last month, Isgec had received an order for wet flue gas desulphurisation system package for the 2x660 MW Khurja Thermal Power Project in Uttar Pradesh from L&T MHI Power Boilers Pvt. Ltd. (formerly L&T MHPS Boilers Pvt. Ltd.). The end user for this project is THDC India Ltd. and the Consultant is NTPC, the company said.
Isgec’s EPC portfolio includes turnkey projects for setting up air pollution control equipment, boilers, power plants, sugar plants, distilleries, factories, industrial water treatment facilities, and bulk material handling facilities. The company has a number of joint ventures as well as strategic technology partnerships with leading global firms.