Technical analyst Rakesh Bansal of New Age Wealth has maintained 'buy' rating on Thermax Limited stock with a short term target of Rs 940.

According to analyst, the investors can buy the stock with a stop loss of Rs 848.

Today, the stock of the company opened at Rs 874.15 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 926.90 and a low of Rs 557 on BSE.

Current EPS & P/E ratio stood at 26.15 and 33.84 respectively.

Thermax has got hold of European boiler maker Danstoker group for Rs 187 crore.

The Danish company owns two production facilities in Denmark and the other in Germany.

Thermax's managing director, MS Unnikrishnan stated, "This acquisition is part of Thermax's plans to become a global company. We will retain the Danstoker and Omnical brands, both of which we acquired on Monday, since these have an appeal in Russian and Middle East markets. The acquisition will also help Thermax for its water treatment and pollution control products through the brand association."

Mr. Unnikrishnan added that they could swell capacitances at the two European sites since both manufacturing plants have the land to strengthen its wings.

Thermax Ltd recorded a growth of 65% in its second-quarter stand-alone net profit of Rs 89.53 crore as against Rs 54.12 crore during the same period of 2009.

The company's quarterly net revenue grew by 57% to Rs 1,047.80 crore as against Rs 667.84 crore in the same period of last year.