Voltas moves higher on reports of foreign brokerage buy call

Voltas rose 1.64% to Rs 321.85 at 12:08 IST on BSE on reports that a foreign brokerage has maintained buy rating on the stock.

Meanwhile, the S&P BSE Sensex was up 32 points or 0.12% at 26,242.68.

On the BSE, 27,000 shares were traded on the counter so far as against the average daily volumes of 1.23 lakh shares in the past one quarter. The stock had hit a high of Rs 322.70 and a low of Rs 318 so far during the day.

The stock had hit a record high of Rs 406 on 20 October 2016 and a 52-week low of Rs 211.20 on 12 February 2016. It had outperformed the market over the past one month till 28 December 2016, advancing 5.36% compared with the Sensex's 0.53% fall. The scrip had, however, underperformed the market in past one quarter, sliding 16.96% as against the Sensex's 7.36% decline.

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

Voltas' consolidated net profit rose 7.2% to Rs 72.11 crore on 7.6% decline in net sales to Rs 958.05 crore in Q2 September 2016 over Q2 September 2015.

Voltas is an air conditioning company and one of the world's premier engineering solutions providers and project specialists.

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