Voltas shares up 1.26% as Sensex falls

Shares of Voltas Ltd. gained 1.26 per cent to Rs 789.55 in Tuesday's session as of 11:16AM (IST) even as the equity benchmark Sensex traded 48.4 points lower at 66479.27.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 1050.55 and a 52-week low of Rs 737.6 on NSE. Around 24923 shares changed hands on the counter till 11:16AM (IST).

The stock opened at Rs 783.45 and has touched an intraday high and low of Rs 790.2 and Rs 781.0 during the session so far. The stock quoted a price-to-earnings (PE) ratio of 192.63, earnings per share (EPS) of Rs 4.08 and price to book value (PB) of 4.96, while the return on equity (ROE) stood at Rs 2.47.

Promoter/ FII Holding
The promoters held 30.3 per cent stake in the company as of August 01, while FII and MF ownerships stood at 19.08 per cent and 15.26 per cent, respectively.

Key Financials
With a market capitalisation of Rs 26007.54 crore, the company operates in the Air Conditioners industry. For the quarter ended 31-Mar-2023, the company reported consolidated sales of Rs 3003.46 crore, up 47.5 per cent from the previous quarter?s Rs 2036.27 crore and up 11.08 per cent from the same quarter a year ago. The company reported net profit of Rs 143.92 crore for the latest quarter, down 21.23 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 60.13. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.