Voltas hots up after bagging Rs 500 crore orders

DALAL STREET SPIKES

The Voltas Ltd scrip leaped 8.70 per cent to Rs 458 as compared with its previous close of Rs 421.35. Around 3.87 lakh shares were traded on the BSE today.

The hike in the scrip price was after the company announced bagging two major orders valued at nearly Rs 500 crore. One of the orders, is a contract for mechanical and electrical work in Dubai and another order is a sub-contract for the Hyderabad airport.

The company is currently executing its first major water and sewage treatment project in Singapore.

The company's profit before tax for the quarter ended June 2005 was Rs 25.65 crore and net sales was Rs 441.69 crore.