Buy Thermax; target of Rs 1680: ICICI Direct
ICICI Direct is bullish on Thermax has recommended buy rating on the stock with a target price of Rs 1680 in its research report dated August 10, 2021.
August 18, 2021 / 11:26 AM IST
ICICI Direct's research report on Thermax
Thermax Ltd (Thermax) offers integrated solutions in the areas of energy and environment – heating, cooling, power, water & waste management, air pollution control and chemicals. It operates three in key segments energy (~76% of FY21 revenue), environment segment (~17%) and chemicals segment (~9%) Focus to increase the product & services share (~50% in FY21) vs. projects
We remain long term positive and retain our BUY rating on the stock We value Thermax at Rs 1680 i.e. 42x on FY23E EPS.
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