Tax tribunal sets aside Rs 1,381 crore excise duty demand against Thermax, group firms
The company along with its group firms had received demand notices from the excise department during earlier years for Rs 1,381.55 crore (including penalty but excluding interest), it stated.
Chart Check: Nearly 100% return from 52-week low, Thermax gives a breakout above rounding pattern! Time to buy?
The stock bounced back after hitting a low of Rs 1,306 on 25 October 2021. The stock hit a 52-week high of Rs 2,678 earlier this month which translates into an upside of over 95 per cent.
Trade Spotlight | What should you do with Bharat Dynamics, Sumitomo Chemical India, Thermax on Monday?
Sumitomo Chemical India share price climbed more than 6 percent to end at record closing high of Rs 524 and formed strong bullish candlestick pattern on the daily charts, engulfing previous six days' negative candle, with above average volumes. It has seen a breakout of long upward sloping resistance trend line adjoining July 15, 2021 and July 12, 2022.
Thermax Limited offers solutions to energy, environment and chemical sectors. The Company’s portfolio includes boilers and heaters, absorption chillers/ heat pumps, power plants, solar equipment, air pollution control equ......read more
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.
Geojit is bullish on Thermax has recommended reduce rating on the stock with a target price of Rs 2178 in its research report dated September 01, 2022.
ICICI Direct is bullish on Thermax has recommended buy rating on the stock with a target price of Rs 2405 in its research report dated August 03, 2022.
The home appliances company reported a net profit of Rs 109 crore for the first quarter ended June 30, 2022. Total revenue stood at Rs 2,768 crore in the June quarter, 6.8 percent less than the CNBC-TV8 poll estimate of Rs 2,971 crore.
The company's total income rose to Rs 1,675.02 crore in the first quarter of the current fiscal. It was at Rs 1,077.75 crore in the same period last year.The expenses stood at Rs 1,593.57 crore during the quarter under review compared to Rs 1,021.49 crore in the preceding fiscal.
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Start nibbling when Nifty is near 15,000 level; here’s what to buy: Sandip Sabharwal
“Maybe the market will fall another 4-5%. If it falls then we could start nibbling because we do not know where the exact bottom will be, what we need to start buying when we think the downside potential is lesser than the upside potential. That could come closer to the 15,000 level of the Nifty.”
Don’t buy IT stocks now; you will get other opportunities in short term: Andrew Holland
“If the Nasdaq falls further,then it will be too hard to move against the sentiment factor against IT in India. It is more of a global factor rather than just a local factor at the moment. We cannot take away the fact that the tailwinds were very strong for IT.”
Buying Nifty may not help now, look at capital goods, reopen trade: Sandip Sabharwal
“It is more of an opportunity market. Overall, I do not think that the markets will do much this year. I do not see much returns from people who are hugging the index but specific opportunities will keep on coming and that is what we have to keep on buying.”
ITC among Kunal Bothra's top stock picks for next week
"We are getting into a phase of correction and possibly we could now be looking at a new range on the index. On the downside, 17250 may act as a support and 17,800 could act as a major resistance."
Buy these top 3 stocks for 14-20% return in next 2-3 weeks: GEPL Capital
Thermax has been moving in a rational uptrend with higher highs and higher lows formation. Recently the stock took support at its 20 Day SMA (Rs 2,009) and broke out of a 3 months consolidation backed with good volumes.
Hot Stocks | Double-digit returns in Tata Power, Bharat Electronics, Thermax possible in short term, here's why
Thermax is in a strong uptrend, where it is respecting its 50 and 20-DMA after a minor pullback, and is now ready to move above the previous swing high of Rs 2,175, which may lead to fresh bullish momentum towards Rs 2,300