India's Voltas tumbles on Q4 profit miss

Voltas

08/05/2024 05:29

** Shares of home appliances maker Voltas  VOLT.NS  down
6.5% at 1,299.0 rupees
    ** VOLT reports smaller-than-expected Q4 profit on higher
expenses; revenue from operations rose 42%     
    ** Stock on track to decline for third straight session, if
losses hold      
    ** Analysts, on avg, rate VOLT "hold", median PT of 1,112
rupees - LSEG
    ** Rivals Havells  HVEL.NS  also rated "hold", Blue Star
 BLUS.NS  rated "buy", while Johnson Controls-Hitachi Air
Conditioning India  JCHA.NS  has "sell" - LSEG
    ** VOLT up 33% YTD vs Nifty mid-cap index's  .NIFMDCP100 
7.8% rise 

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))