India's Voltas drops after Qatar court rejects $46 mln claim

Voltas

06/02/2025 10:16

** Shares of India's Voltas  VOLT.NS  close 3% lower at
1,352 rupees
    ** A Qatar court has rejected Voltas' claims against a JV
between Spain's OHL International and Contrack (Cyprus) where
VOLT had alleged non-payment, payment delays
    ** Voltas flags financial hit of about 4.02 bln rupees ($46
mln)
    ** Prabhudas Lilladher says the expected liability is
significant, especially for the international business which has
faced headwinds for several years
    ** So far in 2025, VOLT has lost ~25% 

($1 = 87.5800 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))