Thermax Ltd. witnessed a significant uptick in its shares, rising over 4% in morning trading after announcing the strategic acquisition of Buildtech Products India Private Limited. The deal, valued at approximately ₹72 crore, grants Thermax a 100% stake in Buildtech Products.
Buildtech Products specializes in producing critical construction materials such as admixtures, accelerators and capsules. These products are vital for various sectors, including tunnels, infrastructure and railways, which are currently experiencing increased demand amid India’s ambitious infrastructure development plans.
As of 10:25 am, Thermax shares were trading 3.88% higher at Rs 5,641.75 on the NSE.
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