Thermax rises on inking pact with Flowtech to manufacture Poly Carboxylate Ether products
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Thermax is currently trading at Rs. 3517.85, up by 7.35 points or 0.21% from its previous closing of Rs. 3510.50 on the BSE.
The scrip opened at Rs. 3549.00 and has touched a high and low of Rs. 3560.45 and Rs. 3486.05 respectively. So far 1891 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3562.00 on 20-Feb-2024 and a 52 week low of Rs. 1985.05 on 22-Feb-2023.
Last one week high and low of the scrip stood at Rs. 3562.00 and Rs. 3392.25 respectively. The current market cap of the company is Rs. 41874.50 crore.
The promoters holding in the company stood at 61.98%, while Institutions and Non-Institutions held 27.87% and 10.14% respectively.
Thermax has entered into a License and Technical Assistance Agreement with Flowtech, South Korea (Licensor) to obtain technology to manufacture Poly Carboxylate Ether products to strengthen its construction chemicals business portfolio.
The lock in period of the agreement is 4 years. The total consideration will be $300,000, 50% will be adjusted against royalty payment and balance as refundable deposit till agreement period.
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.
