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Voltas surges on plans to acquire Wipro's water business

21 Sep 2011 Evaluate

Voltas is currently trading at Rs 121.85, up by 1.55 points or 1.25% from its previous closing of Rs 120.30 on the BSE.

The scrip opened at Rs 122.50 and has touched a high and low of Rs 123.85 and Rs 121.55 respectively. So far 56000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 262.50 on 11-Nov-2010 and a 52 week low of Rs 108.55 on 26-Aug-2011.

Last one week high and low of the scrip stood at Rs 124.60 and Rs 117.65 respectively. The current market cap of the company is Rs 4,031 crore.

The promoters holding in the company stood at 30.55% while Institutions and Non-Institutions held 49.22% and 21.23% respectively.

Voltas, electro-mechanical projects firm, is likely to buy the water purification and treatment business of India's third-largest software services exporter, Wipro. Voltas is in advanced talks with Wipro for the acquisition. Wipro, the soaps-to-software maker has mandated investment bank Anand Rathi to find a suitor for the water treatment business, which it entered about four years ago.

Through this acquisition Voltas is looking to expand its water treatment business, which undertakes works for local civic bodies and for Tata group firms. Wipro's strategy is to exit smaller businesses that are facing increased competition and are not easily scalable.

Voltas net profit after tax for the quarter ended June 30, 2011 has surged 48.58% at Rs 125.70 crore as compared to Rs 84.60 crore for the corresponding quarter last year. Its total income increased 1.21% at Rs 1412.13 crore for the quarter under review from Rs 1395.30 crore for the same quarter last year.

Voltas Share Price

1440.00 31.00 (2.20%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Voltas 1440.00
Blue Star 1865.85
Amber Enterprises 7960.30
Bosch Home Comfort 1347.55
EPACK Durable 248.40
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