Rs 10,264 crore order book and FIIs increase stake: This multibagger heavy equipment stock bags new order worth Rs 550 crore; targets 1 GW hybrid renewable energy project!
Shares of the company have gained more than 40 per cent on a YTD basis.
Thermax, a key player in the energy and environment solutions arena, is taking bold strides toward bridging the gap between energy availability and sustainability. The company’s major focus is on bio-CNG, with orders exceeding Rs. 500 crores secured for five plants across India. These plants will harness local resources like rice straw and generate a combined 110 tonnes of bio-CNG daily, offering a sustainable alternative for commercial and captive use.
Additionally, Thermax aims to become a major player in hybrid renewable energy, setting an ambitious target of deploying 1 GW within the next three years. This will provide industries with diverse clean electricity options, paving the way for a greener future.
Furthermore, Thermax is actively exploring ways to reduce its reliance on coal. The company is developing gasification plants with carbon capture capabilities, processing coal from 100 to 500 TPD, directly aligning with the government's vision of cleaner coal usage.
Thermax Limited offers solutions to the energy, environment, and chemical sectors. The company’s portfolio includes boilers and heaters, absorption chillers, heat pumps, power plants, solar equipment, air pollution control equipment & systems, water and waste recycling plants, ion exchange resins and performance chemicals, and related services. The stock has delivered multibagger returns of over 200 per cent in the last three years.
The company has an order book worth Rs 10,264 crore and FIIs increased their stake in September 2023.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.