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Buy Thermax; target of Rs 2940: Sharekhan

Sharekhan is bullish on Thermax has recommended buy rating on the stock with a target price of Rs 2940 in its research report dated September 09, 2022.

September 12, 2022 / 11:02 AM IST
 
 
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Sharekhan's research report on Thermax

Thermax boasts of a formidable offerings and product portfolio to leverage on increasing demand for the green-energy solutions. Further, low debt and a short working capital cycle offer comfort. Order backlog stands at Rs. 9,554 crore and order intake expectations are high, given strong enquiry inflow from refinery, steel, power, and chemical segments. OPM is likely to improve as projects with escalated pricing/margin get executed. Profitability in the subsidiaries is also likely to improve.


Outlook

We maintain a Buy on Thermax with a revised PT of Rs. 2,940, valuing the stock on its September 2024E EPS. We expect the stock to trade at a premium given strong track record and multiple growth levers.

More Info

At 10:57 hrs Thermax was quoting at Rs 2,460.05, down Rs 11.60, or 0.47 percent.

It has touched an intraday high of Rs 2,501.30 and an intraday low of Rs 2,455.00.

It was trading with volumes of 708 shares, compared to its thirty day average of 8,110 shares, a decrease of -91.27 percent.

In the previous trading session, the share closed down 1.54 percent or Rs 38.60 at Rs 2,471.65.

The share touched its 52-week high Rs 2,549.95 and 52-week low Rs 1,306.65 on 09 September, 2022 and 25 October, 2021, respectively.

Currently, it is trading 3.53 percent below its 52-week high and 88.27 percent above its 52-week low.

Market capitalisation stands at Rs 29,313.05 crore.

For all recommendations report, click here

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

Thermax - 120922 - khan

Broker Research
first published: Sep 12, 2022 11:02 am

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