Thermax gains on licence and technical assistance deal with South Korean company

The share touched a 52-week high of Rs 3,562.00 and a 52-week low of Rs 1,985.05 on 20 February, 2024 and 22 February, 2023, respectively.

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The share price of Thermax inched up 1.5 percent early on February 21 after the company entered into a licence and technical assistance deal with a South Korean company.

At 9:35am, Thermax was quoting Rs 3,512.00, up Rs 1.50, or 0.04 percent, on the BSE.

The deal with Flowtech Co Ltd, South Korea, will help Thermax obtain technology to manufacture polycarboxylate ether products to strengthen its construction chemicals business portfolio.

The total consideration for the technology is pegged at $300,000, out of which 50 percent will be adjusted against royalty payment and the rest as refundable deposit till the agreement period.

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The company had reported a net profit of Rs 237.06 crore in the December quarter, while its revenue increased 13.9 percent to Rs 2,382.76 crore.

The share touched a 52-week high of Rs 3,562.00 and a 52-week low of Rs 1,985.05 on 20 February, 2024 and 22 February, 2023. The stock is trading 1.4 percent below its 52-week high and 76.92 percent above its 52-week low.