Voltas corrects on profit booking after strong Q1 results

Voltas fell 1.94% to Rs 363.50 at 13:57 IST on BSE on profit booking after the company announced strong Q1 June 2016 results during trading hours.

Meanwhile, the S&P BSE Sensex was up 47.58 points, or 0.17%, to 28,050.70.

On BSE, so far 6.21 lakh shares were traded in the counter, compared with an average daily volume of 1.38 lakh shares in the past one quarter. The stock hit a high of Rs 376 so far during the day, which is a record high for the counter. The stock hit a low of Rs 361.35 so far during the day. The stock hit a 52-week low of Rs 211.20 on 12 February 2016. The stock had outperformed the market over the past one month till 1 August 2016, rising 16.66% compared with 3.16% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 26.43% as against Sensex's 9.36% rise.

The large-cap company has an equity capital of Rs 33.09 crore. Face value per share is Re 1.

Shares of Voltas had witnessed a strong rally ahead of the announcement of the first quarter results. The stock jumped 10.82% in six trading sessions to settle at Rs 370.70 yesterday, 1 August 2016, from its close of Rs 334.50 on 22 July 2016.

On a consolidated basis, Voltas' net profit rose 53.72% to Rs 157.62 crore on 18.99% increase in total income to Rs 1890.90 crore in Q1 June 2016 over Q1 June 2015.

Voltas is an air conditioning company and one of the world's premier engineering solutions providers and project specialists. Voltas offers engineering solutions for a wide spectrum of industries in areas such as heating, ventilation and air conditioning, refrigeration, electro-mechanical projects, textile machinery, mining and construction equipment, water management & treatment, cold chain solutions, building management systems, and indoor air quality.

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