Thermax gains after Nalanda India Equity Fund hikes stake

Thermax rose 1.67% to Rs 715.85 after Nalanda India Equity Fund raised its stake in the company by 0.83% to 5.44% on 29 April 2020.

On 29 April 2020, Nalanda India Equity Fund purchased 9.90 lakh equity shares or 0.83% stake in Thermax. Post transaction, the fund's stake in Thermax has increased to 5.44% from 4.61% held earlier. Thermax made the disclosure post trading hours yesterday, 4 May 2020.

On a consolidated basis, the company's net profit rose 13.2% to Rs 84.96 crore despite a 1.8% decline in net sales to Rs 1,410.05 crore in Q3 December 2019 over Q3 December 2018.

Thermax is an engineering company involved in energy and environment. Its business portfolio includes products for heating, cooling, water and waste management, and specialty chemicals. The company also designs, builds and commissions large boilers for steam and power generation, turnkey power plants, industrial and municipal wastewater treatment plants, waste heat recovery systems and air pollution control projects.

Powered by Capital Market - Live News