Thermax shares jump 2.04% after JP Morgan initiates coverage; Anil Singhvi suggests trading strategy

Thermax shares Today: Thermax stock, with current market price of Rs 3,379.80 indicating an upside of 2.04 per cent at 12:55 pm, continues to be trading in green, showing positive momentum in Wednesday's trading session.

The positive momentum is expected to surge as brokerage firm JP Morgan initiated coverage on Thermax with a bullish view. Brokerage assigned an 'Overweight' rating to the company with a target price at Rs 3,869. This indicates a potential increase of around 14 per cent from the current market price of Rs 3,379.80.

Market analyst, Anil Singhvi has also advised investors to buy Thermax shares.

Anil Singhvi's take on Thermax:

Noted market analyst, Anil Singhvi has advised investors to buy shares of Thermax. Singhvi has advised to exercise caution with a stop loss at Rs 3,290, providing a safety net for investors. He chalked out potential target prices for the stock, which include Rs 3,335, Rs 3,365, Rs 3,395.

Thermax Q1 Highlights:

For Q1 FY26 (the quarter ended June 30, 2025), Thermax reported a consolidated Profit After Tax (PAT) of Rs 151 crore, a 39 per cent year-on-year increase, despite a slight 2 per cent dip in consolidated operating revenue to Rs 2,150 crore. 

This profit growth was significantly boosted by a one-time Rs 56 crore incentive from the Maharashtra government. The company also saw a strong increase in EBITDA (profit before interest, taxes, depreciation, and amortization) to Rs 225 crore, with margins expanding to 10.5 per cent.

Thermax Ltd, an Indian multinational engineering conglomerate involved in clean air, clean energy and clean water, recorded its 52 week high at Rs 5,721.20 and 52 week low at Rs 2,930.05 on October 28, 2024 and April 07, 2025 respectively.