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 |
|---|---|---|---|---|---|---|
| SBI Retirement Benefit Fund - Aggressive Plan Retirement · held 2.0 yrs | 1.28% | Sep 2024 | ₹5,100.20 | −30% | -0.48% | held |
| SBI Retirement Benefit Fund - Aggressive Hybrid Plan Retirement · held 2.0 yrs | 1.06% | Sep 2024 | ₹5,100.20 | −30% | -0.38% | held |
| 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 |
| SBI Retirement Benefit Fund - Conservative Hybrid Plan Retirement · held 2.0 yrs | 0.60% | Sep 2024 | ₹5,100.20 | −30% | -0.17% | held |
| Bandhan Nifty Midcap 150 Index Fund Index Funds · held 2.0 yrs | 0.35% | Sep 2024 | ₹5,100.20 | −30% | -0.13% | trimmed |
| SBI Retirement Benefit Fund - Conservative Plan Retirement · held 2.0 yrs | 0.28% | Sep 2024 | ₹5,100.20 | −30% | -0.06% | 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 Nifty 500 Index Fund Index Funds · held 2.0 yrs | 0.08% | Sep 2024 | ₹5,100.20 | −30% | -0.02% | trimmed |
| Bandhan Nifty 500 Momentum 50 Index Fund Index Funds · held 5 mo | 0.96% | Oct 2024 | ₹4,925.45 | −28% | +0.96% | entered |
| Mirae Asset Nifty LargeMidcap 250 Index Fund Equity Funds · held 1.9 yrs | 0.18% | Oct 2024 | ₹4,925.45 | −28% | -0.07% | trimmed |
| Mirae Asset Nifty Total Market Index Fund Equity Funds · held 1.9 yrs | 0.07% | Oct 2024 | ₹4,925.45 | −28% | -0.02% | trimmed |
| Baroda BNP Paribas Nifty Midcap 150 Index Fund Index Funds · held 1.8 yrs | 0.36% | Nov 2024 | ₹4,590.10 | −23% | -0.08% | added |
| Tata India Innovation Fund Sectoral/ Thematic · held 1.7 yrs | 0 | Nov 2024 | ₹4,590.10 | −23% | — | exited Jun 2026 |
| UTI Nifty Midcap 150 Index Fund Equity Funds · held 1.8 yrs | 0.35% | Dec 2024 | ₹4,039.75 | −12% | -0.13% | added |
| ICICI Prudential Nifty 500 Index Fund Index Funds · held 1.8 yrs | 0.07% | Dec 2024 | ₹4,039.75 | −12% | -0.02% | added |
| Groww Nifty Total Market Index Fund Equity Funds · held 1.8 yrs | 0.07% | Dec 2024 | ₹4,039.75 | −12% | -0.02% | added |
| Quantum Ethical Fund Sectoral/ Thematic · held 1.5 yrs | 0 | Dec 2024 | ₹4,039.75 | −12% | — | exited May 2026 |
| 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 |
| Mirae Asset BSE 200 Equal Weight ETF Equity ETF · held 1.3 yrs | 0 | Mar 2025 | ₹3,654.10 | −3% | — | exited May 2026 |
| SBI FOCUSED FUND Focused · held 1.3 yrs | 1.75% | Jun 2025 | ₹3,419.30 | +4% | -0.71% | held |
| Tata Mid Cap Fund Mid Cap · held 1.3 yrs | 0.89% | Jun 2025 | ₹3,419.30 | +4% | -0.34% | held |
| Tata Nifty Midcap 150 Index Fund Index Funds · held 1.3 yrs | 0.36% | Jun 2025 | ₹3,419.30 | +4% | -0.12% | added |
| Motilal Oswal BSE 1000 Index Fund Index Funds · held 1.3 yrs | 0.07% | Jun 2025 | ₹3,419.30 | +4% | -0.03% | trimmed |
| ICICI PRUDENTIAL ENERGY OPPORTUNITIES FUND Sectoral/ Thematic · held 1.0 yrs | 0 | Jul 2025 | ₹3,940.40 | −10% | — | exited Jun 2026 |
| Groww BSE Power ETF Other ETFs · held 1.1 yrs | 1.61% | Aug 2025 | ₹3,207.60 | +11% | -0.20% | added |
| ICICI Prudential Multi Cap Fund Multi Cap · held 1.1 yrs | 0.56% | Aug 2025 | ₹3,207.60 | +11% | -0.23% | held |
| JioBlackRock Nifty Midcap 150 Index Fund Equity Funds · held 1.1 yrs | 0.35% | Aug 2025 | ₹3,207.60 | +11% | -0.13% | added |
| Motilal Oswal Nifty Energy ETF Other ETFs · held 11 mo | 0.93% | Oct 2025 | ₹3,218.80 | +10% | -0.24% | trimmed |
| Aditya Birla Sun Life Manufacturing Equity Fund Sectoral/ Thematic · held 11 mo | 0.90% | Oct 2025 | ₹3,218.80 | +10% | -0.45% | held |
| Mirae Asset Nifty Energy ETF Equity ETF · held 10 mo | 0.93% | Nov 2025 | ₹2,920.10 | +22% | -0.24% | trimmed |
| Groww Nifty Midcap 150 Index Fund Equity Funds · held 10 mo | 0.35% | Nov 2025 | ₹2,920.10 | +22% | -0.13% | added |
| Groww Nifty Midcap 150 ETF Other ETFs · held 10 mo | 0.35% | Nov 2025 | ₹2,920.10 | +22% | -0.12% | added |
| ICICI Prudential Retirement Fund Pure Equity Plan Retirement · held 8 mo | 0 | Nov 2025 | ₹2,920.10 | +22% | — | exited Jun 2026 |
| LIC MF Value Fund Value · held 9 mo | 0.66% | Dec 2025 | ₹3,022.60 | +18% | -0.84% | trimmed |
| DSP Nifty Midcap 150 ETF Other ETFs · held 9 mo | 0.36% | Dec 2025 | ₹3,022.60 | +18% | -0.12% | added |
| DSP Nifty Midcap 150 Index Fund Index Funds · held 9 mo | 0.35% | Dec 2025 | ₹3,022.60 | +18% | -0.13% | added |
| Navi Nifty Midsmallcap 400 Index Fund Index Funds · held 9 mo | 0.23% | Dec 2025 | ₹3,022.60 | +18% | -0.09% | added |
| LIC MF Large & Mid Cap Fund Large & Mid Cap · held 8 mo | 0 | Dec 2025 | ₹3,022.60 | +18% | — | exited Jul 2026 |
| LIC MF Manufacturing Fund Sectoral/ Thematic · held 8 mo | 1.06% | Jan 2026 | ₹2,878.00 | +23% | -0.52% | trimmed |
| DSP Nifty 500 Index Fund Index Funds · held 8 mo | 0.07% | Jan 2026 | ₹2,878.00 | +23% | -0.03% | added |
| Mirae Asset Nifty India Infrastructure & Logistics ETF Equity ETF · held 7 mo | 0.46% | Feb 2026 | ₹3,117.80 | +14% | -0.13% | added |
| UTI Nifty500 Shariah Index Fund Equity Funds · held 7 mo | 0.25% | Feb 2026 | ₹3,117.80 | +14% | -0.09% | added |
| JioBlackRock Sector Rotation Fund Sectoral/ Thematic · held 7 mo | 0.08% | Feb 2026 | ₹3,117.80 | +14% | -0.03% | added |
| Tata Digital India Fund Sectoral/ Thematic · held 5 mo | 0 | Feb 2026 | ₹3,117.80 | +14% | — | exited Jun 2026 |
| 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 |
| Canara Robeco Mid Cap Fund Mid Cap · held 6 mo | 1.49% | Mar 2026 | ₹3,260.70 | +9% | -0.66% | held |
| SBI Nifty Midcap 150 ETF Other ETFs · held 6 mo | 0.35% | Mar 2026 | ₹3,260.70 | +9% | -0.13% | added |
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.