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POWER equipment manufacturer Thermax has seen significant investor interest in the last month or so, with the stock rising over 30% in this period. Analysts attribute this trend to the shift in Bhel’s focus to bigger projects in the utility boiler market, a move which is expected to enable Thermax to get more orders in this space. Bhel has the biggest market share in the utility boiler market. Investors are enthused about Thermax’s recent signing of a 15-year agreement for technology licence for sub-critical boilers with US-based Babcock & Wilcox Power Generation Group. Analysts expect this move to enable the company expand its order book, which was lagging other major players in the power equipment manufacturing space in 2007-08. On Monday, Thermax ended at Rs 494.05, up 4.7% from Friday’s close.

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