Thermax spikes on African order

Thermax, showing a surge in volumes of almost 4 times, the stock opened Rs.20 higher at Rs.901 and zoomed up to Rs.940. It has come off that level but is currently at Rs.913, up almost 4%.

The stock is reacting positively to the news it announced yesterday after market closure – it received an order from an African conglomerate to build and commission a captive power plant. The order is worth Rs.321 crore and it has to be commissioned within a time frame of 15-16 months.

The company will declare its Q2FY15 performance on 4^th Nov.