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Short Term Stock: Buy Thermax Ltd (THERMAX), Target 777

By Bhaveek Patel Leave a Comment

We saw stocks like Thermax Ltd.has corrected a lot in this freefall and this is the right time to accumulate this stock. Thermax is a consistent performer company. If you go by the financial performance for first nine months, they have achieved top-line of close to about Rs.3,300 crore with earnings per share (EPS) at Rs.22. So, in FY11 we are going to see USD 1 billion top-line with EPS close to about Rs.34 because generally Q4 has always been good for this company.

Order book of the company currently stands at Rs.7,300 cr, we think next year FY12 they should be able to post a top-line close to about Rs.6,000 crore. So, we have this company which has been consistently posting a growth of about 25-30% every year.
So, in our view, there is very limited downside from current levels, hence one can buy thermax near 588 – 600, keeping short term target of 744 and 777, also place a protective stop loss at 567.

Definitely good stock to buy, with 33% upside potential in short term.

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Category: Short Term Stocks Tags: Short term Stock/ Thermax

About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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