Mumbai (Udaipur Kiran): Shares of Thermax were trading higher on the BSE after its wholly owned subsidiary secured a major order from Dangote Industries. The stock was trading at Rs. 2,942.60, up by 9.70 points or 0.33 per cent from its previous close of Rs. 2,932.90.
The scrip opened at Rs. 2,983.95 and moved between a high of Rs. 2,983.95 and a low of Rs. 2,915.35 during the session. A total of 1,836 shares were traded on the counter so far.
The BSE Group ‘A’ stock, with a face value of Rs. 2, touched its 52-week high of Rs. 5,002.95 on December 17, 2024, and a 52-week low of Rs. 2,840.70 on November 24, 2025. Over the past one week, the stock moved between Rs. 2,840.70 and Rs. 2,983.95. The company’s current market capitalisation stands at Rs. 35,031.95 crore.
Promoters hold 61.98 per cent stake in the company, while institutional investors and non-institutional investors hold 27.39 per cent and 10.62 per cent respectively.
Thermax’s wholly owned subsidiary, Thermax Babcock & Wilcox Energy Solutions (TBWES), has secured an order of more than Rs 580 crore for utility boilers and associated systems from Dangote Industries for its refinery and petrochemical complex in Nigeria.
The order includes four units of 400 TPH high-pressure utility boilers along with allied auxiliaries. The scope of work covers project management, engineering, procurement, manufacturing, supply of plug-and-play boiler modules, and supervision of construction and commissioning.
Thermax has had a long association with Dangote Industries. In 2017, it had secured a contract valued at around $157 million for supplying boilers, HRSGs and flue gas steam generators for Dangote’s refinery project in Lekki, Nigeria. Over the years, Thermax has also supported installation, commissioning and modernisation of boiler systems.
Thermax is an engineering company providing sustainable solutions in energy and environment.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.