Thermax shares rally 5% after ₹513 crore order win

Thermax shares jumped 4.6 per cent to 5287.10 per share on the BSE in Friday’s intraday trading after the company announced that it had secured a major work order worth Rs 513 crore.

Thermax Babcock & Wilcox Energy Solutions Limited (TBWES), a fully owned subsidiary of Thermax, has received an order for Rs. 513 crore from Jindal Energy Botswana to build a 600 megawatt greenfield energy project in Botswana, Southern Africa.

“TBWES will supply two 550 TPH CFBC (circulating fluidised bed combustion) boilers over a period of 23 months. This order will support the development of the first phase i.e. the 300 MW power station being established by the customer,” the firm stated in an exchange filing on Friday.

According to the company, the power generated is meant for sale to the national utility power company in order to support the nation’s expanding power needs.

At 2:32 pm, Thermax shares were trading 6.09%  at 5605.00.

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