Investment in domestic manufacturing capacities will stand them in good stead; OEMs like Amber Enterprises to also benefit
Airtel's stock has surpassed the hurdle around 540 levels
Air conditioning firm gains market share in room ACs, improves margins
The company gained market share in room air conditioners, improved margins
Its operating revenue plunged 51 per cent to Rs 1,297 crores from Rs 2,654 crores last year
Total income of the company during the quarter under review stood at Rs 1,364.34 crore, down 49.41 per cent from Rs 2,697.27 crore in the year-ago period
Godrej, Voltas, Prestige, Samsung and other appliances brands tune in to the growing chatter around household chores, pitch convenience on a budget
But, analysts have lowered earnings estimate due to high channel inventory
For the quarter under review, Voltas reported a 12.52 per cent year-on-year (YoY) increase in its consolidated net profit at Rs 159.50 crore
Today, a total of 31 companies including Voltas, Jubilant Life Sciences, and Metropolis Healthcare, are scheduled to announce their March quarter results
The RSI on Voltas' stock is also on the rise and has signaled a buy
While some importers might have to absorb costs to protect their market share, other indigenous manufacturers should benefit
The company had posted a consolidated net profit of Rs 78.08 crore in the same quarter last fiscal, Voltas said in a regulatory filing
Under the JV, while Beko will bring in its strong research and development as well as global sourcing capabilities, Voltas will contribute in terms of its local branding and distribution strength
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Competition may also disrupt profitability
Derivative call by Nandish Shah, Technical & Derivative Analyst, HDFC securities.
Trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers
While the company's projects segment is expected to perform better, a strong Q1 and moves to clear inventory are positives for room air-conditioner business
Previously, India made up 80 per cent of Voltas' mining equipment business, while the rest came from Africa; today Mozambique accounts for 70 per cent of its revenues from this segment.