THERMAX LTD
Last close
₹3,551.90
18 Sep 2026 · +7.3% over the year
Held by
116funds
latest disclosure month
Average weight per holder
0.8%
Σ across holders 92.0% · -8.81% over 3 months
Days to exit
235
aggregate MF position at 20% of average daily volume
Who holds it
every fund's latest position, when it first appeared, and the price then against now · 130 rows: 116 holders and recent exits
| Fund | Weight | Since | Entry close | Now vs entry | 3-mo change | Action |
|---|---|---|---|---|---|---|
| LIC MF Mid Cap Fund Mid Cap · held 2 mo | 2.69% | Jul 2026 | ₹4,306.00 | −18% | +2.69% | entered |
| LIC MF Aggressive Hybrid Fund Aggressive Hybrid · held 2 mo | 2.19% | Jul 2026 | ₹4,306.00 | −18% | +2.19% | entered |
| Sundaram Large and Midcap Fund Large & Mid Cap · held 2 mo | 1.99% | Jul 2026 | ₹4,306.00 | −18% | +1.99% | entered |
| LIC MF Unit Linked Insurance Scheme (ULIS) ELSS · held 2 mo | 1.58% | Jul 2026 | ₹4,306.00 | −18% | +1.58% | entered |
| ITI Multi Cap Fund Multi Cap · held 2.2 yrs | 1.32% | May 2021 | ₹1,423.95 | +149% | +1.32% | entered |
| Motilal Oswal Nifty Midcap 150 Momentum 50 ETF Other ETFs · held 3 mo | 1.23% | Jun 2026 | ₹5,159.50 | −31% | +1.23% | entered |
| SBI Nifty Midcap 150 Momentum 50 ETF Other ETFs · held 3 mo | 1.23% | Jun 2026 | ₹5,159.50 | −31% | +1.23% | entered |
| Tata Nifty Midcap 150 Momentum 50 Index Fund Index Funds · held 2.4 yrs | 1.23% | Oct 2022 | ₹2,171.95 | +64% | +1.23% | entered |
| Motilal Oswal BSE Midcap 150 Momentum 30 Index Fund Index Funds · held 2 mo | 1.22% | Jul 2026 | ₹4,306.00 | −18% | +1.22% | entered |
| Sundaram Multi-Factor Fund Sectoral/ Thematic · held 3 mo | 1.11% | Jun 2026 | ₹5,159.50 | −31% | +1.11% | entered |
| Sundaram Multi Cap Fund (Formerly Known as Principal Multi Cap Growth Fund) Multi Cap · held 2 mo | 1.03% | Jul 2026 | ₹4,306.00 | −18% | +1.03% | entered |
| Bajaj Finserv Large & Mid Cap Fund Large & Mid Cap · held 4 mo | 2.09% | Apr 2026 | ₹4,077.60 | −13% | +1.00% | added |
| Axis Nifty500 Momentum 50 Index Fund Equity Funds · held 3 mo | 0.96% | Jun 2026 | ₹5,159.50 | −31% | +0.96% | entered |
| Bandhan Nifty 500 Momentum 50 Index Fund Index Funds · held 5 mo | 0.96% | Oct 2024 | ₹4,925.45 | −28% | +0.96% | entered |
| Motilal Oswal Nifty 500 Momentum 50 ETF Other ETFs · held 6 mo | 0.96% | Sep 2024 | ₹5,100.20 | −30% | +0.96% | entered |
| Motilal Oswal Nifty 500 Momentum 50 Index Fund Index Funds · held 6 mo | 0.96% | Sep 2024 | ₹5,100.20 | −30% | +0.96% | entered |
| Nippon India Nifty 500 Momentum 50 Index Fund Index Funds · held 6 mo | 0.96% | Sep 2024 | ₹5,100.20 | −30% | +0.96% | entered |
| Groww Nifty 500 Momentum 50 ETF Other ETFs · held 3 mo | 0.96% | Jun 2026 | ₹5,159.50 | −31% | +0.96% | entered |
| ITI Large & Mid Cap Fund Large & Mid Cap · held 3 mo | 0.85% | Jun 2026 | ₹5,159.50 | −31% | +0.85% | entered |
| Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF Equity ETF · held 1.3 yrs | 0.84% | Jun 2024 | ₹5,351.00 | −34% | +0.84% | entered |
| UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund Equity Funds · held 7 mo | 0.84% | Feb 2025 | ₹3,248.50 | +9% | +0.84% | entered |
| JM Mid Cap Fund Mid Cap · held 1.5 yrs | 1.34% | Dec 2023 | ₹3,081.50 | +15% | +0.76% | added |
| ITI Mid Cap Fund Mid Cap · held 1.4 yrs | 0.75% | Apr 2021 | ₹1,477.85 | +140% | +0.75% | entered |
| Sundaram Flexicap Fund Flexi Cap · held 6 mo | 1.75% | Mar 2026 | ₹3,260.70 | +9% | +0.72% | added |
| Sundaram ELSS Tax Saver Fund ELSS · held 6 mo | 1.74% | Mar 2026 | ₹3,260.70 | +9% | +0.72% | added |
| TRUSTMF MID CAP FUND Mid Cap · held 2 mo | 0.68% | Jul 2026 | ₹4,306.00 | −18% | +0.68% | entered |
| ITI Small Cap Fund Small Cap · held 8 mo | 1.14% | Nov 2021 | ₹1,753.50 | +103% | +0.37% | added |
| JioBlackRock Flexi Cap Fund Flexi Cap · held 2 mo | 0.31% | Jul 2026 | ₹4,306.00 | −18% | +0.31% | entered |
| ICICI Prudential Large & Mid Cap Fund Large & Mid Cap · held 1.1 yrs | 0.31% | May 2019 | ₹1,020.00 | +248% | +0.31% | entered |
| Bajaj Finserv Multi Asset Allocation Fund Multi Asset Allocation · held 1 mo | 0.24% | Aug 2026 | ₹3,901.60 | −9% | +0.24% | entered |
| Sundaram Mid Cap Fund Mid Cap · held 3.7 yrs | 1.77% | Feb 2017 | ₹859.55 | +313% | +0.17% | added |
| JioBlackRock Large Cap Fund Large Cap · held 2 mo | 0.10% | Jul 2026 | ₹4,306.00 | −18% | +0.10% | entered |
| Axis Nifty 500 Index Fund Equity Funds · held 2.2 yrs | 0.08% | Jul 2024 | ₹5,071.80 | −30% | -0.02% | added |
| HDFC BSE 500 ETF Other ETFs · held 2.3 yrs | 0.08% | Jun 2024 | ₹5,351.00 | −34% | -0.02% | added |
| HSBC Midcap Fund Mid Cap · held 3.3 yrs | 1.88% | Nov 2022 | ₹2,048.90 | +73% | -0.02% | added |
| Motilal Oswal Nifty 500 ETF Other ETFs · held 3.0 yrs | 0.08% | Sep 2023 | ₹3,110.50 | +14% | -0.02% | added |
| Motilal Oswal Nifty 500 Index Fund Index Funds · held 6.9 yrs | 0.08% | Sep 2019 | ₹1,127.90 | +215% | -0.02% | added |
| SBI Nifty 500 Index Fund Index Funds · held 2.0 yrs | 0.08% | Sep 2024 | ₹5,100.20 | −30% | -0.02% | trimmed |
| ICICI Prudential Nifty 500 Index Fund Index Funds · held 1.8 yrs | 0.07% | Dec 2024 | ₹4,039.75 | −12% | -0.02% | added |
| Mirae Asset Nifty Total Market Index Fund Equity Funds · held 1.9 yrs | 0.07% | Oct 2024 | ₹4,925.45 | −28% | -0.02% | trimmed |
| Groww Nifty Total Market Index Fund Equity Funds · held 1.8 yrs | 0.07% | Dec 2024 | ₹4,039.75 | −12% | -0.02% | added |
| ICICI Prudential BSE 500 ETF Other ETFs · held 8.0 yrs | 0.08% | May 2018 | ₹1,110.40 | +220% | -0.03% | held |
| BANDHAN NIFTY TOTAL MARKET INDEX FUND Index Funds · held 2.1 yrs | 0.07% | Aug 2024 | ₹4,372.80 | −19% | -0.03% | trimmed |
| DSP Nifty 500 Index Fund Index Funds · held 8 mo | 0.07% | Jan 2026 | ₹2,878.00 | +23% | -0.03% | added |
| Motilal Oswal BSE 1000 Index Fund Index Funds · held 1.3 yrs | 0.07% | Jun 2025 | ₹3,419.30 | +4% | -0.03% | trimmed |
| JioBlackRock Sector Rotation Fund Sectoral/ Thematic · held 7 mo | 0.08% | Feb 2026 | ₹3,117.80 | +14% | -0.03% | added |
| Mirae Asset Nifty500 Multicap 50 25 25 ETF Equity ETF · held 2.1 yrs | 0.09% | Aug 2024 | ₹4,372.80 | −19% | -0.03% | trimmed |
| ICICI Prudential Mid Cap Fund Mid Cap · held 5 mo | 0.14% | Apr 2026 | ₹4,077.60 | −13% | -0.05% | held |
| Nippon India Nifty 500 Equal Weight Index Fund Index Funds · held 2.0 yrs | 0.18% | Sep 2024 | ₹5,100.20 | −30% | -0.06% | added |
| SBI Retirement Benefit Fund - Conservative Plan Retirement · held 2.0 yrs | 0.28% | Sep 2024 | ₹5,100.20 | −30% | -0.06% | held |
A holder disclosed the stock in the latest month or the one before; an exit is listed for three disclosures. Entry close is the split- and bonus-adjusted close at the end of the month the fund first disclosed the position; “now vs entry” is price only, not the fund's return on the position. Estimated cost basis per fund from monthly unit deltas is not computed in this build.
Three-month flow
−0.09 pp
net change in Σ fund weight over the last three disclosures (percentage points summed across funds) · 71 added or entered, 35 trimmed or exited
Crowding
116 funds hold it, at an average weight of 0.8% each (92.0% summed across holders). At a fifth of average daily volume (2,60,960 shares), the aggregate fund position would take about 235 trading days to exit.
Why this might matterThe curation backtest found consensus positions anti-correlated with forward upside: when everyone already owns it, the marginal buyer is gone, and a crowded exit moves the price against every seller at once.
Why it might notBreadth of ownership is also what a large, liquid, well-run company looks like. Crowding measures how many funds agree, not whether they are right; MF ownership as a share of the company needs issue size, which is not loaded.
Who moved last quarter
the three-month flow, fund by fund — largest move first
Exited: funds that held it three disclosures ago and no longer do.
| Fund | 3-mo change | Weight now | Since | Now vs entry |
|---|---|---|---|---|
| Motilal Oswal Infrastructure Fund Sectoral/ Thematic | -3.15% | 0 · left Jul 2026 | May 2026 | −29% |
| TATA MULTICAP FUND Multi Cap | -2.72% | 0 · left Jun 2026 | Feb 2023 | +65% |
| Motilal Oswal Manufacturing Fund Sectoral/ Thematic | -2.64% | 0 · left Jul 2026 | May 2026 | −29% |
| Tata India Innovation Fund Sectoral/ Thematic | -2.61% | 0 · left Jun 2026 | Nov 2024 | −23% |
| LIC MF Large & Mid Cap Fund Large & Mid Cap | -2.28% | 0 · left Jul 2026 | Dec 2025 | +18% |
| Tata Large & Mid Cap Fund Large & Mid Cap | -1.28% | 0 · left Jun 2026 | Jul 2018 | +203% |
| ICICI PRUDENTIAL ENERGY OPPORTUNITIES FUND Sectoral/ Thematic | -1.05% | 0 · left Jun 2026 | Jul 2025 | −10% |
| LIC MF Infrastructure Fund Sectoral/ Thematic | -0.71% | 0 · left May 2026 | May 2016 | +386% |
| Tata Digital India Fund Sectoral/ Thematic | -0.65% | 0 · left Jun 2026 | Feb 2026 | +14% |
| ICICI Prudential Retirement Fund Pure Equity Plan Retirement | -0.62% | 0 · left Jun 2026 | Nov 2025 | +22% |
| Mirae Asset BSE 200 Equal Weight ETF Equity ETF | -0.61% | 0 · left May 2026 | Mar 2025 | −3% |
| Quantum Ethical Fund Sectoral/ Thematic | -0.42% | 0 · left May 2026 | Dec 2024 | −12% |
| Navi Nifty 500 Multicap 50 25 25 Index Fund Index Funds | -0.12% | 0 · left Jul 2026 | Aug 2024 | −19% |
One year, adjusted
daily close, split- and bonus-adjusted
Prices are the NSE close — the company quotes on both exchanges and the NSE carries the liquidity for almost every dual listing, so one series is shown rather than two that would mostly agree. The series is adjusted for splits and bonuses so a 1:1 bonus does not read as a 50% fall. A dated corporate-action timeline (rights, demergers) is not loaded in this build and is not shown rather than guessed.