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Thermax soars over 5%; to acquire Barite Investments.

Stock of Indian energy & environment engineering company, Thermax Ltd., is soared high over 6% at Rs 60.65 per share on BSE.
The company through its stepdown subsidiary in Denmark has agreed to acquire 100% stake of Barite Investments.
As par the agreement with Weiss Sp in Poland, Thermax will acquire production activities related to boiler manufacturing & certain other assets.
The agreement was signed on March 28, 2017, but the transaction is in process, and will be completed after fulfilling certain conditions.
 Thermax Limited is engaged in the business of manufacture and sale of boilers, heating and cooling equipment, industrial chemicals, and water and waste management equipment.
Stock view:
Thermax Ltd opened at Rs 917 and has touched a high and low of Rs 1004.45 and Rs 915.2 respectively. So far 257667(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 10895.06 crore.
The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 945 on 27-Jul-2016 and a 52 week low of Rs 691 on 26-May-2016. Last one week high and low of the scrip stood at Rs 927.5 and Rs 896.55 respectively.
The promoters holding in the company stood at 61.98 % while Institutions and Non-Institutions held 26.13 % and 6.39 % respectively.