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Thermax rises as its arm plans to infuse Rs 24.94 crore in TEELK
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Thermax is currently trading at Rs. 2807.10, up by 29.70 points or 1.07% from its previous closing of Rs. 2777.40 on the BSE.
The scrip opened at Rs. 2780.20 and has touched a high and low of Rs. 2833.85 and Rs. 2780.20 respectively. So far 759 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3227.85 on 03-Oct-2023 and a 52 week low of Rs. 1830.35 on 23-Dec-2022.
Last one week high and low of the scrip stood at Rs. 3120.05 and Rs. 2760.00 respectively. The current market cap of the company is Rs. 33094.47 crore.
The promoters holding in the company stood at 61.98%, while Institutions and Non-Institutions held 28.00% and 10.02% respectively.
Thermax’s wholly owned subsidiary -- Thermax Onsite Energy Solutions (TOESL) has planned to infuse Rs 24.94 crore in its wholly owned subsidiary Thermax Energy & Environment Lanka (TEELK).
TEELK is engaged in the same line of business as TOESL. Additional capital is being infused to meet the fund requirements for execution of project. TEELK shall continue to be a wholly owned subsidiary of TOESL. The said transaction is expected to be completed on October 30, 2023.
Thermax is a leading energy and environment solutions provider is one of the few companies in the world that offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals.
