Thermax advances after stellar Q1 results

Thermax rose 3.35% to Rs 1,085.15 at 15:05 IST on BSE after consolidated net profit rose 28.16% to Rs 62.76 crore on a 34.5% surge in net sales to Rs 1,392.45 crore in Q1 June 2019 compared with Q1 June 2018.

The result was announced during market hours today, 8 August 2019.

Meanwhile, S&P BSE Sensex was up 590.03 points or 1.61% at 37,280.53.

On BSE, 6,705 shares were traded in Thermax counter, compared to a 2-week average of 4,177 shares. The stock hit an intraday high of Rs 1,139.90 and an intraday low of Rs 1,043. It hit a 52-week high of Rs 1,174 on 3 January 2019 and a 52-week low of Rs 878.05 on 11 October 2018.

Thermax Group had an order balance declined 18% to Rs 5,250 crore as of 30 June 2019 as against 30 June 2018. The firm's order booking was 26% lower at Rs 1,217 this quarter over the same quarter last fiscal year, on the account of slowdown in investment sentiment witnessed in both domestic and international markets.

Thermax is engaged in the business of manufacture and sale of boilers, heating and cooling equipment, industrial chemicals, and water and waste management equipment. The company also undertakes turnkey contracts for power plants, and provides operation and maintenance services for the same.

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