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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
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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.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Aug 18, 2021 11:26 am

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