Shares of Isgec Heavy Engineering, on Wednesday, were up 5 per cent at Rs 487.50 in intra-day trade on the BSE after the company said it has bagged orders for two gas fired boilers from public sector refinery. The stock of the industrial machinery manufacture was trading close to its 52-week high of Rs 488, touched on February 8.
The two gas fired boilers will supply steam to the whole petrochemical unit in this green field project. This order continues Isgec’s track record of being a leading supplier for the refinery & petrochemical industry and is one more step in its resolve towards strengthening the ‘Make in India’ initiative of the Government of India, the company said in a exchange filing.
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 exc
Isgec Heavy Engineering rose 9.28% to Rs 402.85 After the company said it received two orders - one for a Cement Waste Heat Recovery Boiler (CWHRB), and another for conducting Remnant Life Assessment (RLA) study.The order for CWHRB is from a leading cement manufacturer for their Plant site in Meghalaya. The order for conducting the RLA study has been received from a steel major in Jharkhand for their 3 boilers.
Isgec Heavy Engineering is a diversified heavy engineering company engaged in manufacturing and project businesses with an extensive global presence.
The company s consolidated net profit jumped 71.70% to Rs 77.81 crore on a 6% decline in net sales to Rs 1,344.59 crore in Q2 FY21 over Q2 FY20.
Benchmark indices were trading near the day s high in mid-afternoon. At 14:28 IST, the barometer index, the S&P BSE Sensex, soared 1,190.56 points or 2.45% at 49,790.17. The Nifty 50 index surged 371.60 points or 2.60% at 14,653.80.
Shares rallied for the second day as investors cheered Union Budget announcements. Positive global cues also lifted the sentiment.
The broader market lagged the benchmark indices. The S&P BSE Mid-Cap index gained 2.04% while the S&P BSE Small-Cap index gained 1.63%.
Buyers outnumbered sellers. On the BSE, 1,716 shares rose and 1,168 shares fell. A total of 163 shares were unchanged.
The Union Budget 2021 unveiled on 1 February 2021 supported all the essential aspects of growth by an increase in government spending without an increase in indirect taxes. The Budget offered huge stimulus to infrastructure, capex, healthcare and boosted the credit flow by taking out the toxic assets of the banking system.