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Bombay High Court quashes award against Thermax

after close1 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 ruling lacked justification and was unsupported by evidence. RCF plans to challenge the ruling, which is stayed for four weeks. This decision could impact investor sentiment towards both companies.

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, 16:10 IST.

Sourcesnews.google.com

Read inENहिंతెमराதગુ

The market after the news

THERMAX closed −0.1% on the day of the news, from ₹2,884.60 to ₹2,882.70; Nifty −0.2% over the same session.

Bulletin at 16:10 IST on 16 Dec 2025. Every change is measured from ₹2,884.60, the last close before it, on 16 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 it251328853256axis spans 30%before the news · 16 Dec2885Nifty 50THERMAXbulletinD0+1+3+510 Dec22 Dec1 JanReference close ₹2,884.60. 16 sessions from 10 Dec to 1 Jan; 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 %
Before16 Dec₹2,884.60basebase
On the day17 Dec₹2,882.70▼ −0.1%▼ −0.2%+0.1 pp difference
+1 session18 Dec₹2,850.80▼ −1.2%▼ −0.2%−1.0 pp difference
+3 sessions22 Dec₹2,877.00▼ −0.3%▲ +1.2%−1.5 pp difference
+5 sessions24 Dec₹3,000.60▲ +4.0%▲ +1.1%+2.9 pp difference
Gap at the open, % · ₹
▼ −0.1%−1.44 on 17 Dec
Day's range, % · ₹
0.91%≈ 26 high to low
Volume on the day
0.64×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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