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Shares of Voltas rise as Nifty gains


Shares of Voltas Ltd. gained 0.8 per cent to Rs 880.15 in Tuesday’s trade as of 10:41AM (IST). It hit a high of Rs 887.8 and low of Rs 873.2 during the session.

The stock quoted a 52-week high price of Rs 1347.75 and a low of Rs 737.6. The return on equity for the stock stood at 9.16 per cent. About 43,370 shares have changed hands on the counter so far.

The stock’s beta value, which measures its volatility in relation to the broader market, stood at 1.17.

The scrip has been an underperformer, down 29.19 per cent in the past one year in comparison with a 5.33 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 737.6 on February 21, while the 50-DMA was at Rs 815.81. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 30.3 per cent stake in Voltas Ltd. as of 31-Dec-2022. Mutual funds and foreign institutional investors held 14.09 per cent and 21.58 per cent stake.



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