Ellenbarrie Industrial Gases shares gain 5% on ₹481 crore BHEL contract win

As per the latest business developments, Ellenbarrie Industrial Gases stock price further noted x percent in the initial trade on September 29 after the firm secured a ₹481 crore contract from Bharat Heavy Electricals (BHEL) for its Coal to Ammonium Nitrate (2,000 TPD) Project.

At 09:19am Ellenbarrie Industrial Gases was quoting at Rs 379.40, up Rs 20.30, or 5.65 percent, on the BSE.

Under the contract, Ellenbarrie Industrial Gases will undertake the design, engineering, supply, erection, testing, pre-commissioning, commissioning, trial runs, operator training and performance guarantee demonstration of a 1,200 TPD cryogenic Air Separation Unit (ASU). The scope additionally includes supply of spares and handing over of the plant on a turnkey basis.

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The project will be executed over eight quarters and is anticipated to be commissioned in FY29. The contract is on a Build and Transfer (B&T) basis, with no long-term ownership or operation of the plant involved.

In the previous market session, the stock closed at ₹359.10, down 2.62 percent.

The stock has touched a 52-week high of ₹500.85 and a 52-week low of ₹175.05. It is at present trading 28.3 percent below its 52-week high and 105.14 percent above its 52-week low. The firm's market capitalisation stands at around ₹5,061 crore.