Voltas jumps after bagging new orders

Voltas rose 3% to Rs 97.90 at 9:45 IST on BSE after the company said it bagged three overseas project orders worth Rs 1000 crore in the Middle-East.

The company made the announcement after market hours on Tuesday, 26 November 2013.

Meanwhile, the BSE Sensex was 15.19 points, or 0.07%, to 20,440.21.

On BSE, 1.44 lakh shares were traded in the counter compared with average volume of 2.20 lakh shares in the past one quarter.

The stock hit a high of Rs 97.90 and a low of Rs 96.50 so far during the day. The stock hit a 52-week high of Rs 116.75 on 7 December 2012. The stock hit a 52-week low of Rs 62.70 on 4 September 2013.

The stock had outperformed the market over the past one month till 25 November 2013, rising 10.80% compared with the Sensex's 0.38% fall. The scrip had also outperformed the market in past one quarter, rising 37.28% as against Sensex's 11.26% rise.

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

The first project is for a 120-bed integrated health centre and workers' hospital in Qatar. The second one is for a sports hall and administrative office in a 5,350-seat indoor stadium being built to host the World Cup Handball Competition scheduled for January 2015 in the country, the company said in a statement. The third project is for a 5-Star hotel, the Kempinski Wave, in Muscat, Voltas said.

On a consolidated basis, Voltas's net profit fell 1.5% to Rs 42.28 crore on 7.2% decline in net sales to Rs 1076.53 crore in Q2 September 2013 over Q2 September 2012.

Voltas is India's largest air conditioning company, and one of the world's premier engineering solutions providers and project specialists. It 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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