A Thermax Ltd. arm has received an international order worth Rs 516 crore for the supply of two industrial boilers.
Thermax Babcock & Wilcox Energy Solutions received the order for the supply of two 550-tonne-per hour circulating fluidised bed combustion boilers from Jindal Energy Botswana Pty. CFBC boilers are used for generation of power.
This order is part of the second phase of a 600 MW project being developed by the Jinda's Botswana unit, with Thermax as the sole partner for the entire project, according to the company's exchange filing.
As of the end of June, Thermax had an order book of Rs 2,569 crore as of the quarter ended June.
Thermax Ltd stock closed 1.94% higher on Friday trading session to Rs 4,730 apiece on the NSE. In comparison, the benchmark Nifty 50 remained lower by 0.13%. It has risen 71% in the last 12 months and 52% year-to-date.
4 out of the 23 analysts tracking the company have a 'buy' rating on the stock, nine suggest 'hold' and 10 recommend 'sell', according to Bloomberg data. The average 12-month analyst price targets implies a potential downside of 8%.
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