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 Infrastructure Fund Sectoral/ Thematic · held 9 mo | 0 | May 2016 | ₹731.55 | +386% | — | exited May 2026 |
| Sundaram Mid Cap Fund Mid Cap · held 3.7 yrs | 1.77% | Feb 2017 | ₹859.55 | +313% | +0.17% | added |
| ICICI Prudential BSE 500 ETF Other ETFs · held 8.0 yrs | 0.08% | May 2018 | ₹1,110.40 | +220% | -0.03% | held |
| Aditya Birla Sun Life Midcap Fund Mid Cap · held 7.1 yrs | 2.43% | Jul 2018 | ₹1,172.85 | +203% | -0.80% | added |
| Tata Large & Mid Cap Fund Large & Mid Cap · held 8.0 yrs | 0 | Jul 2018 | ₹1,172.85 | +203% | — | exited Jun 2026 |
| SBI Large Cap Fund Large Cap · held 5.8 yrs | 1.66% | Aug 2018 | ₹1,030.45 | +245% | -1.04% | trimmed |
| SBI MIDCAP FUND Mid Cap · held 5.8 yrs | 0.79% | Aug 2018 | ₹1,030.45 | +245% | -0.49% | trimmed |
| ICICI Prudential Large & Mid Cap Fund Large & Mid Cap · held 1.1 yrs | 0.31% | May 2019 | ₹1,020.00 | +248% | +0.31% | entered |
| HSBC Large & Mid Cap Fund Large & Mid Cap · held 1.1 yrs | 0.81% | Sep 2019 | ₹1,127.90 | +215% | -0.39% | held |
| Motilal Oswal Nifty Midcap 150 Index Fund Index Funds · held 7.0 yrs | 0.35% | Sep 2019 | ₹1,127.90 | +215% | -0.13% | added |
| Nippon India ETF Nifty Midcap 150 Other ETFs · held 7.0 yrs | 0.35% | Sep 2019 | ₹1,127.90 | +215% | -0.13% | added |
| Motilal Oswal Nifty 500 Index Fund Index Funds · held 6.9 yrs | 0.08% | Sep 2019 | ₹1,127.90 | +215% | -0.02% | added |
| ICICI Prudential Nifty Midcap 150 ETF Other ETFs · held 6.7 yrs | 0.35% | Jan 2020 | ₹1,069.30 | +232% | -0.13% | added |
| SBI ELSS Tax Saver Fund ELSS · held 1.8 yrs | 0.12% | Feb 2020 | ₹922.75 | +285% | -0.75% | trimmed |
| Nippon India Nifty Midcap 150 Index Fund Index Funds · held 5.6 yrs | 0.36% | Feb 2021 | ₹1,359.35 | +161% | -0.11% | added |
| ITI Mid Cap Fund Mid Cap · held 1.4 yrs | 0.75% | Apr 2021 | ₹1,477.85 | +140% | +0.75% | entered |
| Tata Multi Asset Allocation Fund Multi Asset Allocation · held 4.4 yrs | 0.60% | Apr 2021 | ₹1,477.85 | +140% | -0.19% | held |
| ITI Multi Cap Fund Multi Cap · held 2.2 yrs | 1.32% | May 2021 | ₹1,423.95 | +149% | +1.32% | entered |
| Aditya Birla Sun Life Nifty Midcap 150 Index Fund Equity Funds · held 5.3 yrs | 0.35% | May 2021 | ₹1,423.95 | +149% | -0.13% | added |
| Canara Robeco Infrastructure Fund Sectoral/ Thematic · held 4.8 yrs | 0.67% | Sep 2021 | ₹1,359.70 | +161% | -0.19% | held |
| ITI Small Cap Fund Small Cap · held 8 mo | 1.14% | Nov 2021 | ₹1,753.50 | +103% | +0.37% | added |
| ICICI Prudential Nifty Midcap 150 Index Fund Index Funds · held 4.8 yrs | 0.35% | Dec 2021 | ₹1,786.90 | +99% | -0.12% | added |
| Mirae Asset Nifty Midcap 150 ETF Equity ETF · held 4.5 yrs | 0.35% | Mar 2022 | ₹1,939.05 | +83% | -0.13% | held |
| Navi Nifty Midcap 150 Index Fund Index Funds · held 3.3 yrs | 0.35% | Sep 2022 | ₹2,169.50 | +64% | -0.13% | added |
| 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 |
| HSBC Midcap Fund Mid Cap · held 3.3 yrs | 1.88% | Nov 2022 | ₹2,048.90 | +73% | -0.02% | added |
| Tata Dividend Yield Fund Dividend Yield · held 3.8 yrs | 0.98% | Dec 2022 | ₹1,968.20 | +80% | -0.38% | held |
| SBI Nifty Midcap 150 Index Fund Index Funds · held 3.7 yrs | 0.35% | Jan 2023 | ₹1,925.15 | +84% | -0.13% | added |
| TATA MULTICAP FUND Multi Cap · held 3.1 yrs | 0 | Feb 2023 | ₹2,153.00 | +65% | — | exited Jun 2026 |
| HSBC Equity Savings Fund Equity Savings · held 8 mo | 0.07% | Mar 2023 | ₹2,292.70 | +55% | -1.29% | trimmed |
| UTI Nifty Midcap 150 Exchange Traded Fund Equity ETF · held 3.0 yrs | 0.35% | Sep 2023 | ₹3,110.50 | +14% | -0.13% | trimmed |
| Motilal Oswal Nifty 500 ETF Other ETFs · held 3.0 yrs | 0.08% | Sep 2023 | ₹3,110.50 | +14% | -0.02% | added |
| JM Mid Cap Fund Mid Cap · held 1.5 yrs | 1.34% | Dec 2023 | ₹3,081.50 | +15% | +0.76% | added |
| SBI Energy Opportunities Fund Sectoral/ Thematic · held 2.6 yrs | 4.14% | Feb 2024 | ₹3,637.25 | −2% | -1.36% | trimmed |
| SBI ESG Exclusionary Strategy Fund Sectoral/ Thematic · held 2.6 yrs | 1.34% | Feb 2024 | ₹3,637.25 | −2% | -0.94% | trimmed |
| Aditya Birla Sun Life Retirement Fund-The 30s Plan Retirement · held 2.3 yrs | 0.93% | Feb 2024 | ₹3,637.25 | −2% | -0.37% | held |
| Aditya Birla Sun Life Infrastructure Fund Sectoral/ Thematic · held 2.3 yrs | 0.89% | Feb 2024 | ₹3,637.25 | −2% | -0.73% | trimmed |
| Sundaram Infrastructure Advantage Fund (Erstwhile Sundaram Capex Opportunities) Sectoral/ Thematic · held 2.5 yrs | 1.61% | Mar 2024 | ₹4,192.35 | −15% | -0.39% | held |
| Aditya Birla Sun Life Multi Asset Allocation Fund Multi Asset Allocation · held 2.5 yrs | 1.31% | Mar 2024 | ₹4,192.35 | −15% | -0.58% | held |
| Aditya Birla Sun Life Retirement Fund-The 40s Plan Retirement · held 2.5 yrs | 0.92% | Mar 2024 | ₹4,192.35 | −15% | -0.30% | held |
| HSBC Multi Asset Allocation Fund Multi Asset Allocation · held 1.0 yrs | 0.60% | Mar 2024 | ₹4,192.35 | −15% | -0.24% | held |
| ICICI Prudential Nifty LargeMidcap 250 Index Fund Index Funds · held 2.5 yrs | 0.18% | Mar 2024 | ₹4,192.35 | −15% | -0.07% | added |
| Bandhan Large & Mid Cap Fund Large & Mid Cap · held 8 mo | 0.20% | May 2024 | ₹5,404.65 | −34% | -0.98% | trimmed |
| 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 |
| HDFC BSE 500 ETF Other ETFs · held 2.3 yrs | 0.08% | Jun 2024 | ₹5,351.00 | −34% | -0.02% | added |
| Axis Nifty 500 Index Fund Equity Funds · held 2.2 yrs | 0.08% | Jul 2024 | ₹5,071.80 | −30% | -0.02% | added |
| SBI Innovative Opportunities Fund Sectoral/ Thematic · held 2.1 yrs | 1.42% | Aug 2024 | ₹4,372.80 | −19% | -2.62% | trimmed |
| 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 |
| BANDHAN NIFTY TOTAL MARKET INDEX FUND Index Funds · held 2.1 yrs | 0.07% | Aug 2024 | ₹4,372.80 | −19% | -0.03% | trimmed |
| Navi Nifty 500 Multicap 50 25 25 Index Fund Index Funds · held 1.6 yrs | 0 | Aug 2024 | ₹4,372.80 | −19% | — | exited Jul 2026 |
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.