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Thermax (Goldman Sachs) Sell: Risk-reward unfavorable amid slow order inflow; downgrade to Sell |
| Date | Rating | Target Price | Recommendation Price | Broker house | | 27 Jul 2011 | sell (from Neutral) | 567 (from 712) | 591 | Goldman Sachs Report | |
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Thermax (Credit Suisse) 1Q beats estimates; All rests on IPP order wins |
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Sales Mix and Order Book;Large order execution | Date | Rating | Target Price | Recommendation Price | Broker house | | 26 Jul 2011 | outperform | 710 | 609 | Credit Suisse Report | |
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Thermax (ICICI securities) Good show but moderation to follow |
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Order inflows for Q1FY12 reasonable but moderation to follow;Margins decline YoY owing to EPC project execution & input costs |
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Thermax (Emkay) Order inflows continues; Retain BUY |
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Ahead estimates – Revenues up 32% yoy, Net profits up 21% yoy;Energy revenues up 32% yoy, Environment up 19% yoy;Sharp improvement in consolidated performance – APAT up 28% yoy;Secured orders worth Rs16.9 bn – Positive surprise | Date | Rating | Target Price | Recommendation Price | Broker house | | 25 Jul 2011 | buy | 735 | 610 | Emkay Report | |
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Thermax (Angel) Strong execution drives revenue and profit |
| Date | Rating | Target Price | Recommendation Price | Broker house | | 25 Jul 2011 | neutral | -- | 610 | Angel Report | |
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Thermax (Sharekhan) Downgraded to Hold |
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Emerging Star
Top line growth led by strong execution
Operating margin under slight pressure
Net profit grew by 20.7%
Order inflow moderated, but needs to pick up | Date | Rating | Target Price | Recommendation Price | Broker house | | 25 Jul 2011 | hold (from Buy) | 679 | 610 | Sharekhan Report | |
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Thermax (Citi) Alert: Q1FY12 Results above Expectations |
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Q1 PAT of Rs799m - Up 21%YoY, 10% above expectations;Revenue growth broad based;Weak commentary on domestic market | Date | Rating | Target Price | Recommendation Price | Broker house | | 22 Jul 2011 | sell | 542 | 599 | Citi Report | |
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Thermax (Goldman Sachs) update.2011.Jun.8 |
| Date | Rating | Target Price | Recommendation Price | Broker house | | 8 Jun 2011 | neutral | 712 | 740 | Goldman Sachs Report | |
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thermax (ICICIsec) Execution robust but order inflows hold key. |
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thermax (DeutscheBank) Product business unlikely to offset slowdown in projects |
Order inflow fall much sharper than expected; reiterating Sell; Captive power segment may not be able to fill vacuum of utility orders; Working capital worsens; need to see impact of slowdown in industrial sales; Reiterating Sell with a target price of INR 530/share; risks
| Date |
Rating |
Target Price |
Recommendation Price |
Broker house |
| 5 May 2011 |
sell |
630 |
613 |
DeutscheBank Report |
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