Thermax rises 7% on report of First Energy stake sale
In short
Thermax shares climbed 7% after reports said it may sell more than 51% of its renewable energy arm, First Energy.
The reported deal value was about ₹3,000 crore. The buyer, timing and final terms were not stated in the available reporting.
What the reporting says
Thermax shares jumped 7% after reports said the company plans to divest over 51% of its renewable energy subsidiary First Energy. The summary cited an estimated enterprise value of ₹3,000 crore, but it was not an official announcement. The immediate consequence was a sharp stock move, while the timing, buyer and final deal terms were not stated.
Why it matters
Thermax’s share price surged after reports said it plans to sell over 51% of First Energy, its renewable energy subsidiary, at an estimated enterprise value of ₹3,000 crore. The report is based on market speculation rather than a confirmed company disclosure. Investors reacted positively, but the buyer, closing timeline and whether the transaction will happen are still unknown.