Ellenbarrie Industrial Gases Shares Gain 5% After ₹481 Crore BHEL Contract Win
Last Updated: 29th September 2026 - 11:16 am
Shares of Ellenbarrie Industrial Gases gained more than 5% in early trade on September 29 after the company secured a ₹481 crore contract from Bharat Heavy Electricals Limited (BHEL).
The order is linked to BHEL’s Coal to Ammonium Nitrate project, which has a capacity of 2,000 tonnes per day.
At 9:19 am, Ellenbarrie Industrial Gases shares were trading at ₹379.40 on the BSE, up ₹20.30, or 5.65%.
What the BHEL Contract Covers
Under the contract, Ellenbarrie Industrial Gases will work on a 1,200-tonne-per-day cryogenic Air Separation Unit.
Its responsibilities will cover the design, engineering and supply of the unit, along with its erection, testing and commissioning. The company will also handle pre-commissioning activities, trial runs, operator training and demonstration of performance guarantees.
The contract additionally includes the supply of spares and the eventual handover of the completed plant on a turnkey basis.
The project is scheduled to be completed over eight quarters, with commissioning expected in FY29.
The contract follows a Build and Transfer model. This means Ellenbarrie Industrial Gases will not retain long-term ownership of the facility or operate the plant after completion.
Ellenbarrie Industrial Gases Share Price
The contract announcement came after Ellenbarrie Industrial Gases shares ended the previous trading session at ₹359.10, down 2.62%.
The stock has recorded a 52-week high of ₹500.85 and a 52-week low of ₹175.05. At the price reported on September 29, it was trading 28.3% below its 52-week high and 105.14% above its 52-week low.
Ellenbarrie Industrial Gases had a market capitalisation of around ₹5,061 crore.
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