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MUMBAI :
Shares of ISGEC Heavy Engineering Ltd gained as a lot as 6.84% on Monday after it received a ₹126.50-crore order for a semi-dry circulating fluidised mattress scrubbers (FGD) system from Hindalco Industries.
At 10:15 am, ISGEC Heavy Engineering was buying and selling at ₹276.20 apiece on the BSE, up 4.64% from its earlier shut, whereas the benchmark Sensex superior 0.65% to 39107.58.
The FGD system shall be used at one of many Hindalco’s 150 MW items at Mahan Aluminium at Singrauli in Madhya Pradesh. The mission was received by way of aggressive bidding towards different know-how suppliers. The announcement was made after market hours on Friday.
The broad scope of the mission contains design, engineering, manufacturing, provide, civil works, development, commissioning and efficiency assure testing for the whole semi-dry flue fuel desulphurisation system bundle. The schedule for completion of the mission is 22 months, ISGEC stated.
ISGEC reported a internet revenue of ₹41.70 crore through the quarter ended 30 June towards ₹28.28 crores within the yr in the past interval. Total earnings fell 10.7% to ₹1074.85 crore throughout Q1FY21 as in comparison with ₹1203.94 crore in identical quarter of the previous fiscal.
From the start of the yr, ISGEC misplaced 20% towards a lack of 5% within the benchmark Sensex. From March lows, the inventory gained 35% whereas Sensex was up 51%.
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