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 |
|---|---|---|---|---|---|---|
| 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 |
| HSBC Large & Mid Cap Fund Large & Mid Cap · held 1.1 yrs | 0.81% | Sep 2019 | ₹1,127.90 | +215% | -0.39% | held |
| SBI MIDCAP FUND Mid Cap · held 5.8 yrs | 0.79% | Aug 2018 | ₹1,030.45 | +245% | -0.49% | trimmed |
| ITI Mid Cap Fund Mid Cap · held 1.4 yrs | 0.75% | Apr 2021 | ₹1,477.85 | +140% | +0.75% | entered |
| TRUSTMF MID CAP FUND Mid Cap · held 2 mo | 0.68% | Jul 2026 | ₹4,306.00 | −18% | +0.68% | entered |
| Canara Robeco Infrastructure Fund Sectoral/ Thematic · held 4.8 yrs | 0.67% | Sep 2021 | ₹1,359.70 | +161% | -0.19% | held |
| LIC MF Value Fund Value · held 9 mo | 0.66% | Dec 2025 | ₹3,022.60 | +18% | -0.84% | trimmed |
| HSBC Multi Asset Allocation Fund Multi Asset Allocation · held 1.0 yrs | 0.60% | Mar 2024 | ₹4,192.35 | −15% | -0.24% | held |
| SBI Retirement Benefit Fund - Conservative Hybrid Plan Retirement · held 2.0 yrs | 0.60% | Sep 2024 | ₹5,100.20 | −30% | -0.17% | held |
| Tata Multi Asset Allocation Fund Multi Asset Allocation · held 4.4 yrs | 0.60% | Apr 2021 | ₹1,477.85 | +140% | -0.19% | held |
| ICICI Prudential Multi Cap Fund Multi Cap · held 1.1 yrs | 0.56% | Aug 2025 | ₹3,207.60 | +11% | -0.23% | held |
| LIC MF Equity Savings Fund Equity Savings · held 4 mo | 0.55% | May 2026 | ₹4,982.70 | −29% | -0.23% | held |
| Mirae Asset Nifty India Infrastructure & Logistics ETF Equity ETF · held 7 mo | 0.46% | Feb 2026 | ₹3,117.80 | +14% | -0.13% | added |
| 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 |
| DSP Nifty Midcap 150 ETF Other ETFs · held 9 mo | 0.36% | Dec 2025 | ₹3,022.60 | +18% | -0.12% | added |
| Nippon India Nifty Midcap 150 Index Fund Index Funds · held 5.6 yrs | 0.36% | Feb 2021 | ₹1,359.35 | +161% | -0.11% | added |
| Tata Nifty Midcap 150 Index Fund Index Funds · held 1.3 yrs | 0.36% | Jun 2025 | ₹3,419.30 | +4% | -0.12% | added |
| JioBlackRock Nifty Midcap 150 Index Fund Equity Funds · held 1.1 yrs | 0.35% | Aug 2025 | ₹3,207.60 | +11% | -0.13% | added |
| 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 |
| ICICI Prudential Nifty Midcap 150 ETF Other ETFs · held 6.7 yrs | 0.35% | Jan 2020 | ₹1,069.30 | +232% | -0.13% | added |
| Mirae Asset Nifty Midcap 150 ETF Equity ETF · held 4.5 yrs | 0.35% | Mar 2022 | ₹1,939.05 | +83% | -0.13% | held |
| ICICI Prudential Nifty Midcap 150 Index Fund Index Funds · held 4.8 yrs | 0.35% | Dec 2021 | ₹1,786.90 | +99% | -0.12% | added |
| Groww Nifty Midcap 150 Index Fund Equity Funds · held 10 mo | 0.35% | Nov 2025 | ₹2,920.10 | +22% | -0.13% | added |
| Bandhan Nifty Midcap 150 Index Fund Index Funds · held 2.0 yrs | 0.35% | Sep 2024 | ₹5,100.20 | −30% | -0.13% | trimmed |
| DSP Nifty Midcap 150 Index Fund Index Funds · held 9 mo | 0.35% | Dec 2025 | ₹3,022.60 | +18% | -0.13% | added |
| Motilal Oswal Nifty Midcap 150 Index Fund Index Funds · held 7.0 yrs | 0.35% | Sep 2019 | ₹1,127.90 | +215% | -0.13% | added |
| Navi Nifty Midcap 150 Index Fund Index Funds · held 3.3 yrs | 0.35% | Sep 2022 | ₹2,169.50 | +64% | -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 |
| SBI Nifty Midcap 150 ETF Other ETFs · held 6 mo | 0.35% | Mar 2026 | ₹3,260.70 | +9% | -0.13% | added |
| SBI Nifty Midcap 150 Index Fund Index Funds · held 3.7 yrs | 0.35% | Jan 2023 | ₹1,925.15 | +84% | -0.13% | added |
| UTI Nifty Midcap 150 Exchange Traded Fund Equity ETF · held 3.0 yrs | 0.35% | Sep 2023 | ₹3,110.50 | +14% | -0.13% | trimmed |
| UTI Nifty Midcap 150 Index Fund Equity Funds · held 1.8 yrs | 0.35% | Dec 2024 | ₹4,039.75 | −12% | -0.13% | added |
| Groww Nifty Midcap 150 ETF Other ETFs · held 10 mo | 0.35% | Nov 2025 | ₹2,920.10 | +22% | -0.12% | added |
| HSBC Multi Cap Fund Multi Cap · held 4 mo | 0.33% | May 2026 | ₹4,982.70 | −29% | -0.19% | trimmed |
| 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 |
| SBI Retirement Benefit Fund - Conservative Plan Retirement · held 2.0 yrs | 0.28% | Sep 2024 | ₹5,100.20 | −30% | -0.06% | held |
| UTI Nifty500 Shariah Index Fund Equity Funds · held 7 mo | 0.25% | Feb 2026 | ₹3,117.80 | +14% | -0.09% | added |
| Bajaj Finserv Multi Asset Allocation Fund Multi Asset Allocation · held 1 mo | 0.24% | Aug 2026 | ₹3,901.60 | −9% | +0.24% | entered |
| Navi Nifty Midsmallcap 400 Index Fund Index Funds · held 9 mo | 0.23% | Dec 2025 | ₹3,022.60 | +18% | -0.09% | 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 LargeMidcap 250 Index Fund Equity Funds · held 1.9 yrs | 0.18% | Oct 2024 | ₹4,925.45 | −28% | -0.07% | trimmed |
| 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 |
| ICICI Prudential Nifty LargeMidcap 250 Index Fund Index Funds · held 2.5 yrs | 0.18% | Mar 2024 | ₹4,192.35 | −15% | -0.07% | added |
| ICICI Prudential Mid Cap Fund Mid Cap · held 5 mo | 0.14% | Apr 2026 | ₹4,077.60 | −13% | -0.05% | held |
| SBI ELSS Tax Saver Fund ELSS · held 1.8 yrs | 0.12% | Feb 2020 | ₹922.75 | +285% | -0.75% | trimmed |
| JioBlackRock Large Cap Fund Large Cap · held 2 mo | 0.10% | Jul 2026 | ₹4,306.00 | −18% | +0.10% | entered |
| 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 |
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
Trimmed: funds that held it three disclosures ago and hold less of it now.
| Fund | 3-mo change | Weight now | Since | Now vs entry |
|---|---|---|---|---|
| SBI Innovative Opportunities Fund Sectoral/ Thematic | -2.62% | 1.42% | Aug 2024 | −19% |
| SBI Energy Opportunities Fund Sectoral/ Thematic | -1.36% | 4.14% | Feb 2024 | −2% |
| HSBC Equity Savings Fund Equity Savings | -1.29% | 0.07% | Mar 2023 | +55% |
| SBI Large Cap Fund Large Cap | -1.04% | 1.66% | Aug 2018 | +245% |
| Bandhan Large & Mid Cap Fund Large & Mid Cap | -0.98% | 0.20% | May 2024 | −34% |
| SBI ESG Exclusionary Strategy Fund Sectoral/ Thematic | -0.94% | 1.34% | Feb 2024 | −2% |
| LIC MF Value Fund Value | -0.84% | 0.66% | Dec 2025 | +18% |
| SBI ELSS Tax Saver Fund ELSS | -0.75% | 0.12% | Feb 2020 | +285% |
| Aditya Birla Sun Life Infrastructure Fund Sectoral/ Thematic | -0.73% | 0.89% | Feb 2024 | −2% |
| LIC MF Manufacturing Fund Sectoral/ Thematic | -0.52% | 1.06% | Jan 2026 | +23% |
| SBI MIDCAP FUND Mid Cap | -0.49% | 0.79% | Aug 2018 | +245% |
| Motilal Oswal Nifty Energy ETF Other ETFs | -0.24% | 0.93% | Oct 2025 | +10% |
| Mirae Asset Nifty Energy ETF Equity ETF | -0.24% | 0.93% | Nov 2025 | +22% |
| HSBC Multi Cap Fund Multi Cap | -0.19% | 0.33% | May 2026 | −29% |
| UTI Nifty Midcap 150 Exchange Traded Fund Equity ETF | -0.13% | 0.35% | Sep 2023 | +14% |
| Bandhan Nifty Midcap 150 Index Fund Index Funds | -0.13% | 0.35% | Sep 2024 | −30% |
| Mirae Asset Nifty LargeMidcap 250 Index Fund Equity Funds | -0.07% | 0.18% | Oct 2024 | −28% |
| Mirae Asset Nifty500 Multicap 50 25 25 ETF Equity ETF | -0.03% | 0.09% | Aug 2024 | −19% |
| BANDHAN NIFTY TOTAL MARKET INDEX FUND Index Funds | -0.03% | 0.07% | Aug 2024 | −19% |
| Motilal Oswal BSE 1000 Index Fund Index Funds | -0.03% | 0.07% | Jun 2025 | +4% |
| Mirae Asset Nifty Total Market Index Fund Equity Funds | -0.02% | 0.07% | Oct 2024 | −28% |
| SBI Nifty 500 Index Fund Index Funds | -0.02% | 0.08% | Sep 2024 | −30% |
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.