Voltas strengthens on plan to form JVC for Water and Waste Water treatment

03 Mar 2014 Evaluate

Voltas is currently trading at Rs. 135.05, up by 1.55 points or 1.16% from its previous closing of Rs. 133.50 on the BSE.

The scrip opened at Rs. 133.35 and has touched a high and low of Rs. 135.90 and Rs. 132.85 respectively. So far 156202 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 135.90 on 03-mar-2014 and a 52 week low of Rs. 62.70 on 04-Sep-2013.

Last one week high and low of the scrip stood at Rs. 135.90 and Rs. 123.05 respectively. The current market cap of the company is Rs. 4468.60 crore.

The promoters holding in the company stood at 30.30% while Institutions and Non-Institutions held 44.94% and 24.76% respectively.

Voltas has agreed to establish a joint venture company (JVC) in India with Dow Chemical Pacific (Singapore), a member of the Dow Group Companies, to tap the growing Water and Waste Water treatment market in the country. The proposed new company ‘Voltas Water Solutions’ will be an equal partnership joint venture.

The company will market and distribute standard packaged Water Treatment Systems and Waste Water Treatment Systems of capacity up to 20 m3/hour to residential and commercial complexes and light industrial markets in the Indian subcontinent. The entity’s operations would include designing, procuring, testing, marketing, selling and servicing of such standard water treatment systems and waste water treatment systems.

Voltas is one of the world's premier engineering solutions providers and project specialists. The company offers engineering solutions for a wide spectrum of industries in areas such as heating, ventilation and air conditioning, refrigeration, electro-mechanical projects, textile machinery, mining and construction equipment, materials handling equipment, water management & treatment, cold chain solutions, building management systems, and indoor air quality.

 

Voltas Share Price

1498.00 16.55 (1.12%)
14-Jun-2024 16:01 View Price Chart
Peers
Company Name CMP
Voltas 1498.00
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