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Share price of Thermax added 4.3 percent intraday Monday as company won an order worth Rs 340 crore.
The company has concluded an order of Rs 340 crore from a leading Indian steel manufacturer for a specially designed boiler, electric turbo generators and ancillary equipment for their production facility in Maharashtra, India.
The specially designed boiler will use waste gases produced in the steel manufacturing process to generate high-pressure steam for power generation using high-efficiency reheat cycle.At 10:00 hrs Thermax was quoting at Rs 1,060, up Rs 7.25, or 0.69 percent on the BSE.
The share touched its 52-week high Rs 1,375.00 and 52-week low Rs 835.05 on 09 January, 2018 and 26 September, 2017, respectively.
IDBI BankNSE 1.91 % came alive on Monday soaring 6 per cent as insurance regulator Irdai approved LIC’s plan to buy 51 per cent stake in the state-owned bank.
LIC is lining up Rs 10,000-13,000 crore in tranches for the NPA-mired lender, ETNow quoted sources.
The stock rose 5.64 per cent to hit a high of Rs 58 on the BSE. On the face of it, the news is positive for the stressed bank, but holds a mixed opinion on whether it is time to accumulate the stock.
Its gross non-performing assets jumped to Rs 55,588 crore at the end of the March quarter, from Rs 44,753 crore a year ago. Net interest income (NII) fell 44 per cent YoY for the quarter to Rs 915.47 crore, from Rs 1,633.29 crore a year earlier.
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