Voltas gains 4%; nears record high on JV with Hong Kong firm

Highly International and Voltas will hold 60% and 40% stake in the joint venture company, respectively, and the JVC would have equity capital of Rs 250 crore to be contributed in tranches.

Shares of Voltas jumped 4 per cent to Rs 1,325 on the BSE in Thursday’s intra-day trade after the company approved a proposal to enter into a joint venture (JV) arrangement with Highly International (Hong Kong) Limited. The stock of Tata Group consumer electronics company traded near its record high of Rs 1,356.90 touched on October 19, 2021.

Highly International is a wholly-owned subsidiary of Shanghai Highly (Group) Company to engage in the business of design, development, manufacture, marketing, sale and service of inverter compressors for room air·conditioners, motors for inverter compressors, and their associated parts.

Highly International