Page 2 - Thermax

Thermax gains 5% on winning export contract worth $43 million

The stock was up 5% to Rs 943 trade after the Thermax Group has won a contract worth USD 43 million (Rs 276 crore approximately) from a leading cement company in the UAE

Don't read too much into Thermax's rally

Even as capital goods stocks are once again finding favour among investors, Thermax remains an exception. If 56 per cent of analysts polled on Bloomberg were 'sellers' on Thermax stock two years ago, the number has risen to 74 per cent today. What's more is that the 33 per cent year-to-date gains is not backed by improvement in fundamentals. Analysts believe that even the acquisition of Barite Investments SP. Z.O.O, Poland (manufacturer of boilers), which pumped up Thermax's stock price by about eight per cent on Thursday, is just more of a sentiment boost, as the acquisition may take time to reflect in the financials. There are three key reasons why analysts aren't positive on Thermax. For one, growth has remained elusive or sporadic. Even in the current fiscal, revenues for nine-months have declined by 20 per cent year-on-year to Rs 2,499 crore, while net profit has shrunk by 11 per cent year-on-year to Rs 161.5 crore. Thermax derives 70 per cent of its total revenues from domestic .

Thermax plans additional investment of Rs 6 crore in First Energy

The company had acquired 33% stake in FE in July, 2015

Thermax capex for FY17 Rs 450-455 cr; Q1 net profit down 26%

The company has earmarked investment of Rs 138 cr in building a chemical factory for the manufacturing of ion exchange resins at Dahej

Thermax Q1 net profit falls 10% to Rs 49 crore

Income from operations during the quarter declined by 18.5% to Rs 1,002.13 crore

Thermax, Alstom T&D India hit 52-week low

Thermax (Rs 704) and Alstom T&D India (Rs 338) hit their respective 52-weeks on the BSE in intra-day trade.