Going ahead, profitability in core businesses, adoption rate of new products, and the conversion of investments into order inflows for newer products are key monitorables
Stocks to Watch on Wednesday, July 5: LTIMindtree will replace HDFC in the benchmark Nifty50 index, while LIC Housing Finance will likely replace it in the Nifty Financial Services index
First Energy Private Limited becomes Wholly Owned Subsidiary of Thermax Limited
Posted On: 2020-12-21 07:49:35 (Time Zone: Arizona, USA)
Thermax Ltd has acquired remaining 24% stake in First Energy Private Limited (FEPL) effective December 21, 2020. Accordingly, the equity shareholding of the Company in FEPL stands increased from 76% to 100%. Now, FEPL is a wholly owned subsidiary of the Company.
FEPL is a subsidiary of Thermax wherein Thermax Limited was holding 76% of its paid up share capital before the date of this acquisition. FEPL is an alternative energy company based in Pune, India that applies biomass and gasification technology to heating applications; specifically home and commercial cooking. It is engaged in the business of manufacture & supply of biomass pellets, gasification technology and cooking stoves. It caters to consumers in India through their brand Oorja which consists of a biomass stove and a fuel - made from pelletized agri-residue. The stove uses