India's Voltas hits record high on higher FY24 sales

Blue Star

08/04/2024 05:26

** Shares of Voltas  VOLT.NS  up as much as 13% to hit
record high of 1,365.7 rupees, last up 9.6% 
    ** The air conditioners maker's FY24 air conditioner sales
volume jumped 35% y/y to 2 million units, it grew 72% for Q4 
    ** Stock on track for steepest intraday gain since June 2020
    ** Stock has been trading above its 200-day simple moving
avg since Nov 2023
    ** Over 3.6 mln shares traded, 2.4x the 30-day avg 
    ** Analysts' avg rating on stock is "hold", median PT is
1,100 rupees, a 10.7% discount to last close - LSEG
    ** Including session's gains, stock up 38% YTD, while rivals
Havells  HVEL.NS  gained 15% and Blue Star  BLUS.NS  rose 47% 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))