{
  "id": 10631904,
  "title": "Ellenbarrie Industrial Gases shares rise 5% after securing Rs 481 crore order from BHEL",
  "url": "https://urgent.news/2026/09/29/ellenbarrie-industrial-gases-shares-rise-5-after-securing-rs-481",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-29T05:29:36.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/stocks/news/ellenbarrie-industrial-gases-shares-rise-5-after-securing-rs-481-crore-order-from-bhel/articleshow/134557142.cms"
  },
  "original_language": "en",
  "account": "Ellenbarrie Industrial Gases' shares surged 5.10% to Rs 377.35 on Tuesday after securing a significant order from Bharat Heavy Electricals Ltd (BHEL). The company has been awarded a Rs 481 crore contract to build a 1,200 TPD cryogenic Air Separation Unit (ASU) for BHEL's 2,000 TPD Coal to Ammonium Nitrate Project. This turnkey deal includes design, engineering, supply, erection, testing, commissioning, operator training, and handover of the unit. The project is expected to be completed in eight quarters and is scheduled to commence in FY29. Ellenbarrie will execute the project using the Build and Transfer (B&T) model, meaning they will not have long-term ownership or operational responsibilities.\n\nThe order bolsters Ellenbarrie's position in India's growing coal gasification sector, which seeks to decrease reliance on imports and increase domestic production of chemicals, fertilizers, and industrial feedstocks. Cryogenic ASUs play a crucial role in coal gasification, as they require substantial amounts of oxygen and nitrogen. In a statement, Varun Agarwal, Joint Managing Director of Ellenbarrie Industrial Gases, described the project as a strategic milestone and highlighted the company's capability to manage large-scale cryogenic ASUs for intricate industrial applications. Agarwal noted that this project positions Ellenbarrie among the group of companies capable of constructing plants with capacities exceeding 1,000 TPD.\n\nEllenbarrie Industrial Gases' shares have climbed approximately 45% over the past three months. The company's market capitalization is around Rs 5,060 crore. Its price-to-earnings (P/E) ratio is 41.94, price-to-sales (P/S) ratio is 8.14, and price-to-book (P/B) ratio is 5.18. Technically, the stock is trading above six of its eight key simple moving averages (SMAs).",
  "summary": "Ellenbarrie Industrial Gases shares rallied 5.10% after the company secured a Rs 481-crore contract from BHEL to build a 1,200 TPD cryogenic Air Separation Unit for its Coal to Ammonium Nitrate Project. The turnkey project will be executed over eight quarters and is expected to be commissioned in FY29, expanding Ellenbarrie’s presence in India’s coal gasification ecosystem.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}