India's Voltas rises as tribunal drops tax demand

Voltas

06/12/2024 08:29

** Voltas  VOLT.NS  rises as much as 2.6% to 1,712 rupees
    ** Air conditioner maker says Custom, Excise and Service Tax
Appellate Tribunal, Mumbai, decided in favour of co, dropped
demand of 41.3 mln rupees ($487,955)
    ** Stock has been above its 200-day SMA since Dec. 2023,
indicating bullish sentiment
    ** Stock rated "hold" on avg; median PT is 1,740 rupees, ~2%
higher than current price - LSEG
    ** VOLT last up 2.4%, extending YTD gains to ~75%

($1 = 84.6390 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))