Thermax zooms on new 'repeat' order

Capital goods company, Thermax has hit a new 52-week high today at Rs.1131.80 with an almost 2.5 times surge in volumes. Figuring amongst the top five gainers on the BSE, the stock is up 5% currently at Rs.1115.

This sudden spike up in the stock price is a reaction to the news is announced on Friday. The company has won a repeat order from a leading African company. The value of the order is placed at Rs.351 crore, for supplying captive power project for one of its cement plants. The scope of work includes system design, manufacture, supply and supervision of erection and commissioning of the plant. The company has stated that this back-to-back repeat order, has further strengthened Thermax's credentials to provide lump sum turnkey solutions for African customers.

As at 30th Sept 2014, the company’s order book stood at Rs.5016 crore v/s Rs.5308 crore. But order intake surged 42% only in Q2.