Thermax –Buy- Angel Securities
Thermax has bagged an order worth Rs580 crore for a gas-based combined cycle power plant from an Indian petrochemical major for its aromatic complex in a SEZ.
The 72MW project comprises two gas turbine generators, one extraction cum condensing turbine, two fired heat recovery steam generators and two oil/gas fired boilers apart from auxiliaries. We maintain our BUY recommendation on the stock.
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