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Buy Thermax: target of Rs 2400: Sharekhan

Sharekhan is bullish on Thermax has recommended buy rating on the stock with a target price of Rs 2400 in its research report dated January 13, 2022.

January 14, 2022 / 06:20 PM IST
 
 
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Sharekhan's research report on Thermax


Thermax is slated to benefit from India’s ambitious target of achieving 500GW renewable energy capacity by 2030. Strong order intake in green energy offerings and exposure to key industries places it in a favourable position. The company has started to receive large orders in FGD announced during November 2021 and January 2022 highlighting its competitiveness in reducing power plant emissions. The company’s strong treasury corpus would aid in investment in newer technologies like hydrogen providing next leg of growth.



Outlook


We maintain a Buy on Thermax with a revised PT of Rs. 2,400, led by upwardly revised estimates and the healthy traction expected in order inflows.


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At 17:30 Thermax was quoting at Rs 2,066.35, up Rs 45.20, or 2.24 percent.

It has touched an intraday high of Rs 2,078.70 and an intraday low of Rs 1,994.25.

It was trading with volumes of 11,825 shares, compared to its thirty day average of 10,014 shares, an increase of 18.09 percent.

In the previous trading session, the share closed up 1.14 percent or Rs 22.75 at Rs 2,021.15.

The share touched its 52-week high Rs 2,078.70 and 52-week low Rs 939.55 on 14 January, 2022 and 28 January, 2021, respectively.

Currently, it is trading 0.57 percent below its 52-week high and 119.99 percent above its 52-week low.

Market capitalisation stands at Rs 24,621.86 crore.

For all recommendations report, click here


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first published: Jan 14, 2022 06:20 pm

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