MUMBAI (Commodity Online): Bhopal-based manufacturer of air-cooled heat exchangers, GEI Industrial Systems Ltd (BOM:530743) shot up on the Bombay Stock Exchange (BSE) after the company announced the new order win today.

GEI Industrial Systems zoomed on the BSE in the morning trade today, the stock shot up by close to 7% to Rs.99 on the back of increased buoyancy from the investors. The company today announced on the BSE that the company has won fresh order worth Rs.54.46 crore for upstream and downstream projects in the oil and gas sector for IOC, MRPL and ONGC.



In a filing to the BSE, GEI stated that the company has bagged three orders amounting to Rs.54.56 crore for supply of Air Cooled Heat Exchangers for upstream and downstream projects in the Oil and Gas sector for Indian Oil Corporation, Mangalore Refinery and Petrochemicals Ltd (MRPL) and Oil & Natural Gas Corporation Ltd.

According to a filing with the BSE, “The order for the supply of Air Cooled Heat Exchangers for the Fluid Catalytic Cracker Unit of the Refinery Complex of Paradip Refinery Project has been awarded by the owner IOC, Toyo Engineering India Ltd is the EPC contractor for this project. Toyo has also awarded Air Cooled Heat Exchangers for the Crude Distillation Unit/Vacuum Distillation Unit and Balance of Plant of Delayed Coker Unit of Mangalore Refinery and Petrochemicals Ltd.”

The order for ONGC has been awarded by L&T for supply of Process Gas and Lube Oil Coolers for the MHN offshore platform of ONGC Ltd.

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