ISGEC Heavy Engineering moves up on developing special capability for Inconel Weld Overlay process
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ISGEC Heavy Engineering is currently trading at Rs. 453.50, up by 10.90 points or 2.46% from its previous closing of Rs. 442.60 on the BSE.
The scrip opened at Rs. 444.00 and has touched a high and low of Rs. 455.90 and Rs. 444.00 respectively. So far 3171 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 488.00 on 08-Feb-2021 and a 52 week low of Rs. 205.05 on 23-Mar-2020.
Last one week high and low of the scrip stood at Rs. 464.95 and Rs. 420.35 respectively. The current market cap of the company is Rs. 3254.42 crore.
The promoters holding in the company stood at 62.41%, while Institutions and Non-Institutions held 9.32% and 28.26% respectively.
ISGEC Heavy Engineering has developed a special capability for Inconel Weld Overlay process. This process is qualified as per ASME and EN Standards and opens up the Global Market, including in the European Union. This has been developed at the Boiler Manufacturing and Piping plant of Isgec located at Rattanagrh, Haryana. The Plant caters to Isgec's Boiler and Pressure Part global clientele.
This recent development enables Isgec to cater to its customers in Waste to Energy, Fired Heaters, and Special Projects where weld overlay is needed on membrane wall (water wall) tubes and pipes. As a result of this development, Isgec has already received orders that are under execution. The first order is for the supply of 3 Cooling Stacks with weld overlay (inconel 625). To be manufactured as per EN Standards, this order has been received from Danieli Corus for installation at the Arcellor Mittal Steel Plant in Ukraine.
ISGEC Heavy Engineering is a multi-product, multi-location public company that has been providing engineering solutions to customers around the world for the past many years.
