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Thermax Limited (NSE: THERMAX) extends gains, moves up 5% intraday

Thermax Limited (NSE: THERMAX) stock is up 5% intraday, extending gains and nearing resistance at ₹5079.9.

preety tomer tradealone

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Thermax Limited (THERMAX) gained +5% to extend its gains to ₹5079.9 on the NSE on 29 Jun 2026. The stock is now consolidating upwards after recovering from a breakdown, though it has not yet cleared resistance. This move comes as the company informed the Exchange about the closure of the Trading Window pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015. Thermax, a conglomerate within the industrials sector, specializes in energy and environment solutions. Today’s move appears to be company-specific rather than a sector-wide trend, highlighting investor interest in Thermax’s recent developments.

Technical setup — trendlines & DMA

From a technical standpoint, Thermax is currently trading above its 6M support trendline, which ends at ₹4879.36, indicating a buffer of 3.95% below the current price. Resistance is noted at ₹5412.27, with the stock still 6.54% below this level. The 50-day moving average (DMA) of ₹4496.9 is above the 200-DMA of ₹3452.6, signaling a bullish trend. The stock is in the upper third of its 52-week range, suggesting that a significant portion of its potential upside may already be priced in. This setup indicates that while the stock is in a positive trend, it has room to run before hitting resistance.

6M Trendline — Intraday Snapshot
CONSOLIDATING UP₹4,400₹4,600₹4,800₹5,00015 May29 May15 Jun29 Jun

Snapshot: ₹5,079.90 on 2026-06-29 (chart frozen at publication)

Fundamentals & business context

On the fundamental side, Thermax’s PE of 76.0, coupled with a profit margin of 6.7%, raises questions about the valuation relative to its earnings. The revenue CAGR of 10.0% and profit CAGR of 17.0% show solid growth, but the market’s high PE suggests that investors may be pricing in future improvements or a turnaround that hasn’t yet materialized. Institutional ownership stands at 21.1%, indicating a level of confidence from smart money, though not overwhelmingly so. There was no specific NSE catalyst today beyond the trading window closure, suggesting that the move may be driven by broader market sentiment or technical factors.

THERMAX
Holdings Analysis
Key strengths & risk signals
52
Overall
68
Fundamental
36
Technical
Risks (4)
LOW MARGIN! 5.3% profit margin - thin profits.
BEARISH SENTIMENT! In last 30 days: 13 up days, 17 down days. Avg volume on up days: 207,972 vs down days: 351,644. Ratio: 0.59x
WEAK POSITION! Current price (2725.4) is below both moving averages.
WEAK YEAR! Stock declined 12.1% in the last year.
Strengths (3)
PERFECT RECORD! Revenue has grown consistently every year. Exceptional business stability.
OVERSOLD! RSI at 23.2 - potential bounce opportunity.
LOW VOLATILITY! Beta of 0.40 - stable stock, less market risk.

Algorithmic scorecard

Thermax’s algorithmic scorecard reflects a technically strong but fundamentally weaker profile. The stock’s bullish trend, indicated by the 50-DMA being above the 200-DMA and its strong momentum across various timeframes, underscores its technical strength. Additionally, the low volatility, as evidenced by a beta of 0.30, suggests a stable stock with less market risk. However, the fundamental weaknesses are notable, particularly the low profit margin of 6.7% and the PEG ratio of 4.47, which indicates that the stock is expensive relative to its growth rate. These factors highlight the risk of thin profits and overvaluation, which could pose challenges if the company faces increased costs or slower growth.

Fundamental & Technical AnalysisNSE: THERMAX
52Overall
68Fundamental
36Technical
Growth Quality21 / 30
Revenue CAGR: 9.8% (MODERATE, 8/15). Profit CAGR: 17.0% (VERY GOOD, 13/15).
Profit Margin3 / 10
LOW MARGIN! 5.3% profit margin - thin profits.
PEG Valuation3 / 10
OVERVALUED! PEG of 3.07 means expensive relative to growth rate.
Dividend Yield3 / 10
NEGLIGIBLE DIVIDEND! 0.5% yield - little to no income.
Debt / Equity8 / 10
LOW DEBT! D/E of 0.36 - strong balance sheet.
Public Holding20 / 20
VERY LESS PUBLIC HOLDING! 4.67% public ownership - strong promoter/institutional control.
Stability10 / 10
PERFECT RECORD! Revenue has grown consistently every year. Exceptional business stability.
Moving Averages5 / 10
BEARISH TREND! 50-day average (3339.2) is below 200-day average (3842.7) - negative signal.
Price Position2 / 10
WEAK POSITION! Current price (2725.4) is below both moving averages.
Trend Pattern10 / 20
BREAKDOWN! Stock has broken below support levels - weakness present.
52W Performance2 / 10
WEAK YEAR! Stock declined 12.1% in the last year.
Volume Sentiment5 / 30
BEARISH SENTIMENT! In last 30 days: 13 up days, 17 down days. Avg volume on up days: 207,972 vs down days: 351,644. Ratio: 0.59x
RSI5 / 5
OVERSOLD! RSI at 23.2 - potential bounce opportunity.
52W Range1 / 5
WEAK! Trading at 2.3% of 52W range - near yearly lows.
Momentum1 / 5
NEGATIVE MOMENTUM! Price declined across timeframes - down 15.8% (1 week), 17.6% (1 month), 31.9% (3 months).
Beta / Volatility5 / 5
LOW VOLATILITY! Beta of 0.40 - stable stock, less market risk.

Get all details on THERMAX — P&L, peers, shareholding and more on TradeAlone.

Conglomerates

Nava Limited (NSE: NAVA) Q2 FY27: Revenue Hits ₹1,252 Crore, PAT Surges 127% Yoy

Nava Limited reports its highest quarterly revenue of ₹1,252 crore and a PAT surge of 127% YoY for Q2 FY27, driven by strong energy segment performance.

Reena Bhati - Tradealone

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Nava Limited NSE NAVA Q2 FY27 Results

Nava Limited, the flagship company of the diversified multinational group spanning metals, energy, mining, and commercial agriculture, announced its financial results for the second quarter ended September 30, 2026. The quarter results are marked by the highest-ever revenue of ₹1,252 crore, a growth of 30% year-on-year. Consolidated Profit After Tax (PAT) more than doubled at ₹403 crore, a growth of 127% year-on-year, with energy in the forefront supplemented by contributions from other businesses and positive deferred tax adjustment.

Energy Segment Performance

The energy segment delivered strong performance, supported by healthy PLFs in domestic operations. The commissioning of the 100 MW solar project in Zambia also marks a significant milestone, opening a promising new avenue for future growth and expansion in renewable energy.

Strategic Developments

The group’s foray into renewable energy gained traction with the graduated commissioning of the 100 MW solar power project in Zambia ushering in a new phase of growth. The avocado plantation project, the integrated Sugar project, mineral exploration for Manganese, Lithium etc., continue to make good strides during the quarter.

Forward-Looking Statement

Commenting on the performance, Ashwin Devineni, Managing Director & CEO, Nava Limited, said: ‘Nava’s record quarterly and year-to-date operating revenue reflects the strength of our diversified businesses and the sustained performance of our core operations. The robust year-on-year growth in profitability, supported by our energy and mining businesses, reinforces the resilience of our operating model. With our 300 MW power expansion progressing and our agribusiness ventures approaching key commercial milestones, we remain focused on disciplined execution, operational excellence and building a diversified portfolio that creates sustainable long-term value.’

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of NAVA LIMITED

NAVA LIMITED belongs to the › sector. Here’s a quick read on where the business and the stock stand today.

NAVA
Industrials › Conglomerates
APPROACHING RESISTANCE
46
Fundamental
60
Technical
54
Overall

1W +1.59%
1M -0.08%
3M -6.27%
P/E: 20.4 Cap: Mid
AI-Powered Analysis • TradeAlone
Download the App for in-depth analysis of this stock

NAVA moves sideways over three months, with neither buyers nor sellers taking control. Revenue consistency is the one bright spot — zero dips in five years shows operational resilience. Revenue contracts at 6.8% CAGR. That signals structural headwinds, not a short-term blip. The stock holds at 31% of its 52-week range with RSI at 48. In other words, neither side has a clear edge right now. Revenue grows at 6.8% CAGR and the PEG stands at 99.00. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of NAVA LIMITED.

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Conglomerates

Cyient Limited (cyient) Partners with 3-GIS to Turn Network Data into Operational Control

Cyient Limited and 3-GIS announce strategic partnership to transform network data into operational control, enhancing deployment and management.

Manas shah, Analyst — IT & Software

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Cyient Limited Cyient Partnership Network Data Control

Cyient Limited, a global lifecycle engineering services company, and 3-GIS, a leading provider of network management software, announced a strategic partnership to help telecom and utility operators turn network data into operational control. This collaboration combines Cyient’s extensive experience with 3-GIS’s platform capabilities to offer an integrated solution for deployment and long-term network management.

Integrated Offering for Telecom and Utility Operators

The partnership aims to address the growing complexity of managing network data by providing a single integrated offering. Traditionally, operators have had to rely on multiple vendors for software platforms, deployment services, and operational intelligence. However, Cyient and 3-GIS will now offer these capabilities together, simplifying the process and improving data quality.

Enhanced Deployment and Management

With over three decades of experience in serving telecom and utility customers, Cyient has managed and transitioned over 650 million network data elements. This expertise will now be combined with the 3-GIS platform to help customers accelerate deployment and simplify long-term network management. The integration of 3-GIS with Cyient’s Engineering Intelligence Platform, CYiNGINE, will enable customers to derive greater value from network data while improving operational efficiency and decision-making.

“By bringing the 3-GIS platform together with our engineering and managed services, we are giving operators across telecom, electric, and gas one partner accountable for the whole journey, from migrating their data to running the network of record day to day,” said Arunav Roy, SVP & Market Unit Head, Connectivity, Utilities & Spatial Intelligence, Cyient.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Cyient Limited

Cyient Limited belongs to the › sector. Here’s a quick read on where the business and the stock stand today.

CYIENT
Industrials › Conglomerates
—
54
Fundamental
90
Technical
72
Overall

1W -6.18%
1M -4.66%
3M +25.05%
P/E: 32.4 Cap: Mid
AI-Powered Analysis • TradeAlone
Download the App for in-depth analysis of this stock

Cyient gains 38.4% over three months and trades near its 52-week highs. Thin margins at 5.0% leave limited room for error — any demand softness or cost spike hits the bottom line hard. Revenue contracts at 6.5% CAGR. That signals structural headwinds, not a short-term blip. The stock trades at 89% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. The stock rises 38.4% in three months on 6.5% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Cyient Limited.

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Conglomerates

Thermax Limited (thermax): Conserving Resources, Preserving the Future Investor Presentation Q2 FY 2026-2027

Thermax Limited (THERMAX) Q2 FY26-27 investor presentation highlights resource conservation and future preservation.

shalini shishodia tradealone

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Thermax Limited Thermax Q2 Fy26-27 Investor Presentation

Thermax Limited (THERMAX) has unveiled its Q2 FY 2026-2027 investor presentation, emphasizing the theme of ‘Conserving Resources, Preserving the Future’. The presentation underscores the company’s commitment to sustainable solutions in energy and the environment. Thermax reported a revenue of Rs. 10,694 crore, highlighting improved operations in the Industrial Products and Industrial Infrastructure segments.

Process Heat Solutions

Thermax has enabled cleaner process heat at scale with innovative solutions. Notably, the company installed a first-of-its-kind high-temperature electric heat pump for the textile industry, aiding customers in achieving their ESG targets.

Green Hydrogen Milestone

A strategic milestone was achieved with the securing of a green hydrogen purification order for a 96 MW green hydrogen project, the largest in India, marking a significant milestone in Thermax’s clean energy journey.

Operational Excellence

Thermax continues to demonstrate operational excellence with various projects, including an 8 Mn kcal/hr biomass-fired thermic fluid heater for a leading food processing player and 2 x 65 TPH IR-CFB boilers for a chemical manufacturer’s captive power facility.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Thermax Limited

Thermax Limited belongs to the › sector. Here’s a quick read on where the business and the stock stand today.

THERMAX
Industrials › Conglomerates
CONSOLIDATING DOWN
68
Fundamental
36
Technical
52
Overall

1W -15.75%
1M -17.62%
3M -31.89%
P/E: 52.2 Cap: Large
AI-Powered Analysis • TradeAlone
Download the App for in-depth analysis of this stock

Thermax falls 28.6% over three months and has not found a floor yet. The PEG reaches 3.72. The stock trades on brand and index weight, not on growth. Thin margins at 5.5% leave limited room for error — any demand softness or cost spike hits the bottom line hard. The stock sits at 23% of its 52-week range, close to annual lows. Historically, value investors build positions at these levels — though cheap stocks can stay cheap. Revenue grows at 9.8% and profits at 17.0% CAGR, with D/E of 0.00. Meanwhile, the stock dips 28.6% in three months without any fundamental deterioration. Consequently, the stock quietly becomes cheaper relative to earnings power. For long-term investors, that is a feature. Check Fundamentals of Thermax Limited.

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