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Bombay High Court quashes award against Thermax

pre-market1 source ↓written by the desknot a recommendation

plus interest
₹218 crore

The Bombay High Court has quashed an arbitration award against Thermax Ltd, ordering Rashtriya Chemicals and Fertilisers (RCF) to refund ₹218 crore plus interest. The court found the arbitrator's decision lacked evidence and failed to address Thermax's submissions. RCF plans to challenge the ruling, which is stayed for four weeks.

Not investment advice. For informational purposes only.

OI Charts is not a SEBI-registered investment adviser or research analyst. This bulletin was written by the OI Charts desk from the public sources listed here. It is commentary on market conditions, not a basis for any investment decision and not a recommendation to buy or sell any security. Prices as of 16 Dec 2025, 07:12 IST.

Sourcesnews.google.com

Read inENहिंతెमराதગુ

The market after the news

THERMAX closed −0.2% on the day of the news, from ₹2,891.20 to ₹2,884.60; Nifty −0.6% over the same session.

Bulletin at 07:12 IST on 16 Dec 2025. Every change is measured from ₹2,891.20, the last close before it, on 15 Dec. Nifty 50 is measured over the same sessions.

  • THERMAX close ₹
  • Nifty 50, rebased to the close before the news
  • close before the news
  • above it
  • below it
THERMAX closes around the bulletin against the close before the news, with Nifty 50 rebased to it251928913264axis spans 30%before the news · 15 Dec2891Nifty 50THERMAXbulletinD0+1+3+59 Dec19 Dec31 DecReference close ₹2,891.20. 16 sessions from 9 Dec to 31 Dec; the price axis spans 30 percent.
price axis fixed at 4 × the 14-session true range around the close before the news · values printed at each marked session
Closes after the news against the close before it, with Nifty 50 over the same span
SessionClose ₹Change %Nifty %
Before15 Dec₹2,891.20basebase
On the day16 Dec₹2,884.60▼ −0.2%▼ −0.6%+0.4 pp difference
+1 session17 Dec₹2,882.70▼ −0.3%▼ −0.8%+0.5 pp difference
+3 sessions19 Dec₹2,869.90▼ −0.7%▼ −0.2%−0.5 pp difference
+5 sessions23 Dec₹2,931.70▲ +1.4%▲ +0.6%+0.8 pp difference
Gap at the open, % · ₹
▲ +0.2%+5.78 on 16 Dec
Day's range, % · ₹
1.5%≈ 45 high to low
Volume on the day
0.36×the 20-session average
Futures OI on the day
—
Futures OI open, lots
—
Futures premium, ₹
—
Puts per call, by OI
—
Max pain
—

Source NSE UDiFF bhavcopy · THERMAX on the desk →

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