Thermax Acquires Additional Stake In First Energy


Thermax on Thursday announced that it has acquired stake in First Energy (FEPL), an alternative energy solutions company.

The company in its regulatory filing said that it has signed an agreement to increase its shareholding in FEPL, subsidiary of the company. Accordingly, the company's equity shareholding in FEPL stands increased from 54.67% to 76%, it added.

Thermax shares have given 1.5% returns in a period of one year and has underperformed the BSE Mid-Cap and BSE Capital Goods indices over the same time span.

Thermax is engaged in the business of manufacture and sale of boilers, heating and cooling equipment, industrial chemicals, and water and waste management equipment. The company caters to both domestic and international markets.

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