Thermax Ltd
Stocks on the Move
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Reco. Price: Rs. 3435.00 -
Reco. Date: April 09, 2026 
Rating: Buy
BSE Code: 500411
NSE Symbol: THERMAX
Stock Info
- Face Value (Rs) 2
- Equity Capital (Rs cr) 23.00
- Mkt Cap (Rs cr) 39,336.47
- 52w H/L (Rs) 4091.80 - 2742.70
- Avg Daily Vol (BSE+NSE) 156,166
Shareholding Pattern
- (as on 31-Dec) %
- Promoter 61.98
- FIIs 12.36
- DIIs 14.73
- Public & Others 10.93
Price Performance
- Return (%) 1m 3m 12m
- Absolute 7.41 7.52 2.16
- Sensex 0.00 -7.86 4.49
Data Source: Ace equity, stockaxis Research
Breaking Base, Building Momentum.”
Following a long period of decline, the price has begun to create higher lows and higher highs. Recent price movements show a base forming between 2750 and 3000, suggesting that demand is building up. The price has regained the 21 EMA and 50 EMA, which are now serving as dynamic support levels. The 21 EMA is positioned above the 50 EMA, indicating early signs of a bullish crossover. However, it remains below the 200 EMA, so while the trend is improving, it is not fully bullish yet. The RSI is staying above the 55–60 range, signaling that bullish momentum is developing. There are no significant signs of bearish divergence. A gradual rise in volume during upward movements suggests institutional accumulation.
Hence, we recommend buying the stock at cmp while any dip around 3300 can be utilized to average with a stop loss below Rs.3125 for target of Rs.4000.