Tata Group's Voltas defies market gravity, shares rise 4%; details here

Shares of Tata Group's household appliances maker company Voltas were buzzing in trade on the bourses on Monday, March 3, 2025. The company's share price advanced 4 per cent to a day's high of Rs 1,373 per share on the National Stock Exchange (NSE) during the intra-day deals on Monday.

 

The surge in Voltas' share price follows the news that the company has completed the transfer of its 92 per cent direct investment in Saudi Ensas Company for Engineering Services W.L.L. to Universal MEP Projects, Singapore (UMPPL) on February 28.

 

"We wish to inform that pursuant to the satisfaction of Conditions Precedent and receipt of necessary approvals, including remittance of the consideration amount, the transfer of the company’s direct investment (92 per cent) in Saudi Ensas Company for Engineering Services W.L.L. - Kingdom of Saudi Arabia to Universal MEP Projects - Singapore (UMPPL) has been completed on 28th February, 2025, and consideration of Rs 61.84 crore has been received by the company," said Voltas in a regulatory filing on the BSE.  READ: This recently listed IPO freezes at 10% lower limit; down 43% from Jan high  "As UMPPL is a step-down wholly owned subsidiary of the Company, the economic interest of the company in Saudi Ensas Company for Engineering Services W.L.L. remains intact, and it continues to be a wholly owned subsidiary of the Company."

 

 

Incorporated in 1954, Voltas is a part of the Indian multinational conglomerate, the TATA Group. Voltas is also India’s largest air conditioning company, with a presence offering engineering solutions across Air Conditioning and Cooling Products (Unitary Products), Engineering Projects, and Engineering Products & Services. Voltas enjoys a market capitalisation of Rs 45,003.63 crore as of March 3, 2025. The company is a constituent of the NSE Midcap50 index.

 

The household appliances maker company's shares were recorded at their 52-week high of Rs 1,944.90 per share on September 20, 2024, while they fell to their 52-week low of Rs 1,023.95 on March 13, 2024.

 

Voltas shares have dropped around 24 per cent in the last six months, while it has yielded a return of around 23 per cent in the last one year.

 

At around 1:41 PM on Monday, Voltas shares were trading at Rs 1,365.15 apiece, up 3.41 per cent from the previous close of Rs 1,320.10 on the NSE. A combined total of nearly 3.82 million equity shares of Voltas, estimated to be worth around Rs 515.86 crore, have changed hands on the BSE and NSE today.

 

At the same time, the benchmark equity indices, BSE Sensex traded down by 80 points at 73,117 levels, while the Nifty50 traded flat at 22,123 levels.