ISGEC Heavy Engineering jumps 4 per cent

ISGEC Heavy Engineering Limited today jumped four per cent on winning an order for a waste-to-energy plant from Karnataka Power Corporation Ltd, Bengaluru.

The company has secured an order for setting up an 11.5 MW waste-to-energy (WTE) plant for Karnataka Power Corporation Limited (KPCL). This plant will be set up in Bidadi, an industrial hub located 32 km from Bengaluru.

This plant will have the capacity to use 600 tonnes of segregated waste per day, which will be used in power generation. This will be the second waste-to-energy plant that this association would be setting up. The first plant is already running successfully in Jabalpur (Madhya Pradesh) for the last four years.

The company’s order book as of FY20 stood at Rs 6,916 crore and going ahead, the order booking in the current year will depend upon the revival of investments in refineries, petrochemicals, and fertiliser projects.

Today, the stock of ISGEC Heavy Engineering opened at Rs 238.10 and gained nearly four per cent. It made an intraday high of Rs 245 on BSE.