07 Nov 2026, 06:48 IST
Thermax Limited
HDFC Securities · BUY · target INR 4,050
The report maintains BUY on Thermax with a reduced TP of INR 4,050 (cut from 52x to 45x multiple), noting a revenue/EBITDA/APAT miss and muted order inflow in Q2FY27.
From HSIE Results Daily 07 Nov 26 HSIE, written by HDFC Securities. Orivam summarised it; the view is HDFC Securities's, not Orivam's.
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