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Broking house, P-Sec recommended hold rating on Thermax.
P-Sec report on Thermax:
Thermax reported a growth of 107% yoy and a bottom line growth of 103% yoy. The results bettered our expectations with a big margin, the EBITDA margins sank by 38 bps yoy. The management had given a rich guidance of 40% yoy growth for FY08 and have maintained there position of stable to better margins.
The current order book stands at Rs. 36.72bln (0up by 66%yoy) that is 1.42x net sales of FY07 offering visibility for future growth.
, P-Sec recommended hold rating on Thermax. 
, P-Sec is bearish on ACC and has recommended sell rating on the stock with
on Ashok Leyland and maintained buy rating on stock.
