Thermax Ltd. Faces Continued Decline Amid Broader Market Stability

Thermax Ltd., a prominent player in the engineering and industrial equipment sector, has recently experienced a decline in its stock performance. On December 30, 2024, the company's shares fell by 3.39%, underperforming the broader market, which saw a minimal change of just 0.02% in the Sensex. Over the past two days, Thermax has faced consecutive losses, accumulating a total decline of 6.12%. The stock reached an intraday low of Rs 4232.05, reflecting a decrease of 3.45% during the trading session. In terms of moving averages, Thermax is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a sustained downward trend. Additionally, the company's performance over the past month shows a decline of 7.37%, contrasting with the Sensex's decrease of 1.40%. As a large-cap entity in the engineering sector, Thermax's recent performance metrics highlight the challenges it faces in the current market environment.