Voltas share price: The shares of Tata Grap’s home appliances company Voltas Limited declined by 12.64 percent a day on January 30 and the price went up to Rs 1289.60. Despite the company returning to profits, the stock faced the selling pressure. Voltas made a net profit of Rs 132 crore in the October-December 2024 quarter, while a year ago the company incurred a loss of Rs 30 crore in the same quarter.
Revenue gained 18 percent to Rs 3,105 crore on an annual basis, which was Rs 2,626 crore in the December 2023 quarter. Voltas’s profit was less than an estimate of Rs 155 crore from CNBC-TV18 and Rs 3,015 crore. Not only this, the Ebitda margin of 6.4 percent in the December 2024 quarter is also less than expected.
The market cap of Voltas has come to Rs 43000 crore. Meanwhile, the decline in the margin of the company’s unity cooling products (UCP) segment affected the sentiments of investors. The UCP margin was 5.9 percent in the December quarter, the lowest in 10 years.
Shares have gone up to high of Rs 1,946.20
The stock watched a 52 -week high level of Rs 1,946.20 on BSE on 20 September 2024. At the same time, the 52 -week low of Rs 989.35 was recorded on 31 January 2024. The upper circuit for the stock is set at Rs 1,550.10 and the lower circuit is set to Rs 1,254.90.
Hitachi Energy Shares: Stock jumped 20% on the basis of 498% increase in profit, upper circuit
Brokerage firm Motilal Oswal Financial Services has given a ‘bye’ call for Voltas shares. However, the brokerage is waiting for the commentary of the company’s management on Outlook for the Lower Margins in the UCP segment, the channel inventory and the voltbeck margins before the start of summer.
Disclaimer: The advice or idea expert/brokerage firm given on Moneycontrol.com has its own personal views. The website or management is not responsible for this. Moneycontrol advises to users that always seek the advice of certified experts before taking any investment decision.