Voltas advances on receiving LoA for Metro 3 contract for Tunnel Ventilation Systems

29 Aug 2019

Voltas is currently trading at Rs. 630.25, up by 4.40 points or 0.70% from its previous closing of Rs. 625.85 on the BSE.

The scrip opened at Rs. 626.00 and has touched a high and low of Rs. 631.95 and Rs. 617.30 respectively. So far 82339 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 662.15 on 01-Jul-2019 and a 52 week low of Rs. 471.00 on 08-Oct-2018.

Last one week high and low of the scrip stood at Rs. 631.95 and Rs. 586.00 respectively. The current market cap of the company is Rs. 20832.50 crore.

The promoters holding in the company stood at 30.30%, while Institutions and Non-Institutions held 48.88% and 20.41% respectively.

Voltas has received a Letter of Award (LoA) from Mumbai Metro Rail Corporation (MMRCL) for Environmental Control System (ECS) and Tunnel Ventilation System (TVS) works for Phase 2, Lot 2 Package comprising 8 out of total 27 stations, i.e. from Cuffe Parade to Grant Road station and tunnel upto Mumbai Central station.

Mumbai Central ECS is not covered under Voltas scope and is part of the other package. The ECS and TVS works for the entire Line 3 has been divided into 3 packages and Voltas has received LoA for 1 package (value: Rs 233 crore approximately). The total value of 3 packages is over Rs 800 crore. Bid was submitted by company in February 2019 and was subject to various post-bid clarifications on technical aspects.

Voltas is among India’s leading air-conditioning, refrigeration and engineering services companies.


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