Thermax Stock Rises More Than 3% After Bagging A Mega Deal

Thermax, a leading energy and environment solutions provider rose more than 3% in the morning hours on BSE after the company announced that it had won export contracts from a leading African conglomerate.

The announcement was made after market hours on Friday, 28 April 2017. The stock of the company is trading up 2.9% at Rs 1048 on BSE at 09.41 am IST.

Thermax announced that the company has won export contracts from a leading African conglomerate to supply 4 utility boilers, 8 heat recovery steam generators and 2 flue gas steam generators for its refinery and petrochemical project coming up in Nigeria. The scope of supply covers design, engineering, procurement, manufacturing and testing, and supervision of commissioning of this equipment at the site. The order is valued at approximately $157 million, as per BSE filing.

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