Thermax has signed an agreement to increase its shareholding in First Energy (FEPL), subsidiary of the company. Accordingly, the equity shareholding in FEPL stands increased from 54.67% to 76%.

Recently, the company won export contracts from a leading African conglomerate to supply 4 utility boilers, 8 heat recovery steam generators and 2 flue gas steam generators for its refinery and petrochemical project coming up in Nigeria.

Total volume of shares traded on the bourses today was higher by 58.48% to 36,879 compared with 22-day average volume of 23,271.

Shares of the company declined Rs 7.75, or 0.84%, to settle at Rs 915.50. The total volume of shares traded was 985 at the BSE (Wednesday).