--- title: "THERMAX in RupeeCase index algos | Thermax" description: "Thermax (NSE: THERMAX): held by 8 of 18 RupeeCase index algos on their latest lists, NSE sector Capital Goods. Membership record May 2021 to 3 Jul 2026, model" source_url: "https://www.rupeecase.com/stocks/THERMAX" --- NSE: THERMAX, Capital Goods # THERMAX Thermax Held by **8 of 18** RupeeCase index algos on their latest published lists. Record to 3 Jul 2026. Held by8of 18 index algos, latest lists Ever held by8index algos since May 2021 First on a list14 May 2021Midcap Record to3 Jul 2026last list naming it See the 8 index algos holding THERMAX [Sign up for RupeeCase](https://invest.rupeecase.com/signup?strategy=energy-basket) **On the list, May 2021 to 3 Jul 2026**8 index algos in the record Midcap Large Mid Multi Asset Large Midcap Large Mid Hybrid Energy Basket Allcap Allcap Multi Asset TotalMarket Hybrid * On the latest published list * Held earlier in the record Model, back tested rebalance record of the 18 RupeeCase index algos, published lists May 2021 to 3 Jul 2026. Tickers are not recommendations. No price data on this page. 01Holders ## 8 index algos name THERMAX on their latest list. Each card is one published list with its date. Lists are equal weighted at the stock level; multi asset lists carry ETF sleeves beside the equity names. * [Energy Basket](/strategies/energy-basket)11 May 2026 **1 of 10 names** on the list, about 10% at equal weight. CNX Energy, rebalanced every week [Rebalance of 11 May 2026](/rebalance/energy-basket/#2026-05-11) * [Midcap](/strategies/midcap)11 May 2026 **1 of 20 names** on the list, about 5% at equal weight. Nifty Midcap 150, rebalanced every 2 weeks [Rebalance of 11 May 2026](/rebalance/midcap/#2026-05-11) * [Large Midcap](/strategies/large-midcap)11 May 2026 **1 of 40 names** on the list, about 2.5% at equal weight. Nifty LargeMidCap 250, rebalanced every 2 weeks [Rebalance of 11 May 2026](/rebalance/large-midcap/#2026-05-11) * [Allcap](/strategies/allcap)3 Jul 2026 **1 of 60 names** on the list, about 1.7% at equal weight. Nifty Total Market (max 5000), rebalanced every 2 weeks [Rebalance of 3 Jul 2026](/rebalance/allcap/#2026-07-03) * [Allcap Multi Asset](/strategies/allcap-multi-asset)8 May 2026 **1 of 48 names** on the list; the equity sleeve is equal weighted, ETF sleeves sit beside it. Nifty Total Market (max 5000), rebalanced every 2 weeks [Rebalance of 8 May 2026](/rebalance/allcap-multi-asset/#2026-05-08) * [Large Mid Hybrid](/strategies/large-mid-hybrid)8 May 2026 **1 of 41 names** on the list; the equity sleeve is equal weighted, ETF sleeves sit beside it. Nifty LargeMidCap 250, rebalanced every 2 weeks [Rebalance of 8 May 2026](/rebalance/large-mid-hybrid/#2026-05-08) * [Large Mid Multi Asset](/strategies/largemid-multi-asset)8 May 2026 **1 of 42 names** on the list; the equity sleeve is equal weighted, ETF sleeves sit beside it. Nifty LargeMidCap 250, rebalanced every 2 weeks [Rebalance of 8 May 2026](/rebalance/largemid-multi-asset/#2026-05-08) * [TotalMarket Hybrid](/strategies/totalmarket-hybrid)8 May 2026 **1 of 47 names** on the list; the equity sleeve is equal weighted, ETF sleeves sit beside it. Nifty Total Market (max 5000), rebalanced every 2 weeks [Rebalance of 8 May 2026](/rebalance/totalmarket-hybrid/#2026-05-08) 02On and off the list ## 67 moves across the lineup. Every entry and exit of THERMAX in the published record, newest first. Each row links to that rebalance in the index algo's history. 1. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 2. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 3. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 4. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 5. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 6. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 7. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 8. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 9. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 10. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 11. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 12. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 13. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 14. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 15. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 16. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 17. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 18. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 19. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 20. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 21. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 22. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 23. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 24. 12 Apr 2024[Allcap Multi Asset](/rebalance/allcap-multi-asset/#2024-04-12)In 43 earlier moves are in the rebalance histories linked above. 03Sector and industry ## Capital Goods on NSE. NSE's four level industry classification, as published on 9 Oct 2026. NSE macro sectorIndustrials NSE sector[Capital Goods](/sectors/capital-goods) IndustryElectrical Equipment Basic industryHeavy Electrical Equipment NSE indexNifty 500 Related stocks, same industry [BHEL9](/stocks/BHEL)[GVT&D8](/stocks/GVTD)[SUZLON7](/stocks/SUZLON)[CGPOWER6](/stocks/CGPOWER)[ENRIN6](/stocks/ENRIN)[SIEMENS6](/stocks/SIEMENS)[SKIPPER6](/stocks/SKIPPER)[TDPOWERSYS6](/stocks/TDPOWERSYS) 04Questions ## THERMAX, in plain words Which RupeeCase index algos hold THERMAX?On the latest published lists (record to 3 jul 2026), THERMAX is on 8 lists: [Allcap](/strategies/allcap), [Allcap Multi Asset](/strategies/allcap-multi-asset), [TotalMarket Hybrid](/strategies/totalmarket-hybrid), [Midcap](/strategies/midcap), [Large Mid Multi Asset](/strategies/largemid-multi-asset), [Large Midcap](/strategies/large-midcap), [Large Mid Hybrid](/strategies/large-mid-hybrid), [Energy Basket](/strategies/energy-basket). Each list is equal weighted at the stock level, so the weight is one divided by the number of names on that list. What is a quantitative index algo?A fixed, published rule that screens an NSE universe (momentum and risk measures), takes the top names at equal weight and rebalances on a set schedule. RupeeCase publishes every list on every rebalance date; the [index investing](/index-investing) page explains the method and the [strategies hub](/strategies/) lists all 18. Do I own THERMAX shares if I invest through RupeeCase?Yes. Trades go through your own broker and the shares sit in your own demat account; RupeeCase never holds money or securities. The fee is 0.2% of the value traded at each rebalance, nothing else. Figures on this page are the model, back tested record, not a price feed and not advice. Explore next ## Where this name sits in the record. * [Same sectorTITAGARH, TITAGARH RAIL SYSTEMSOn 1 of 18 latest lists](/stocks/TITAGARH) * [StocksEvery stock in the index algosWhich lists named each NSE name, and when](/stocks/) * [Holds THERMAXAllcap Multi Asset strategyNifty Total Market, 52 stocks, every 2 weeks](/strategies/allcap-multi-asset) * [Holds THERMAXAllcap strategyNifty Total Market, 50 stocks, every 2 weeks](/strategies/allcap) * [SectorCapital Goods stocksNSE sector across the 18 index algos](/sectors/capital-goods) * [Same industryBHEL, Bharat Heavy ElectricalsOn 9 of 18 latest lists](/stocks/BHEL) ## Hold THERMAX the way the algo does. Energy Basket rebalances on a published schedule; you approve each rebalance in your own broker account and pay 0.2% of the value traded, nothing else. [Invest in Energy Basket](https://invest.rupeecase.com/signup?strategy=energy-basket) [Energy Basket rebalance history](/rebalance/energy-basket/) Model, back tested rebalance record of the 18 RupeeCase index algos, published lists May 2021 to 3 Jul 2026. Tickers are not recommendations. No price data on this page.