ISGEC wins huge order for FGD-FGC package from Odisha Power Generation Corporation

ISGEC Heavy Engineering Ltd has successfully secured a big order for wet limestone flue gas desulphurisation (FGD) system and flue gas conditioning (FGC) system package from Odisha Power Generation Corporation (OPGC) for its 2x660 MW TPPIB Thermal Power Station at Banharpalli, Jharsuguda (Odisha).  

OPGC is a state government-owned company, which operates advanced thermal power plants. Bagging an order from such an esteemed company makes it a prestigious one.  

ISGEC will be working on design, engineering, procurement, fabrication, construction, installation, commissioning, startup, and testing of FGD-FGC package. And to do this, it will be utilising state-of-the-art technology, which it has due to the ‘collaboration and technology transfer’ agreement with Babcock Power Environmental Inc. (USA).  

It will be the company's fourth project in the wet FGD business.  

The company's stock is on the top gainers' list today on BSE and has also, made a fresh 52-week high of Rs 824.40, surging almost 17 per cent in a single trading session from its previous day's close of Rs 704.  

ISGEC is a multi-national company, engaged mainly in manufacturing and project businesses. It has customers & projects across 91 countries and is in the business for the last 88 years. The company has a strategic technological association with many global leading firms and numerous joint ventures as well. It ranks 220 in the Fortune India 500 listing and 236 in ET 500 listing.  

As per BSE data, the stock has a price-to-earnings multiple of 23.72 and a price-to-book multiple of 3.09. At 3.21 pm on Wednesday, the stock was trading at Rs 768.45, up by a whopping 8.82 per cent on BSE.