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Voltas shares extend rally, surge over 6%

LiveMint logoLiveMint 25-05-2017 PTI

New Delhi: Extending its rally for the second straight session on Thursday, shares of Voltas Ltd jumped over 6% after the company reported a 22% jump in net profit for the March quarter and announced a foray into home appliances market.

The stock soared 6.25% to settle at Rs475.50 on the BSE. Intra-day, it gained 8.14% to Rs484. At the NSE, shares of the company advanced 6.32% to close at Rs474.75. In terms of volume, 6.79 lakh shares of the company were traded on the BSE and over 63 lakh shares changed hands at the NSE during the day.

Shares of Voltas had zoomed 9% on Wednesday. It added Rs2,175.57 crore in market valuation in two days. Voltas on Wednesday reported a 22.06% increase in consolidated net profit at Rs200.47 crore for the fourth quarter that ended on 31 March. The company had posted a net profit of Rs164.23 crore in the January-March quarter a year ago.

Voltas’ total income during the period under review was up 10.20% to Rs2,096.86 crore, as against Rs1,902.62 crore in the corresponding quarter a year ago. Voltas and Turkey’s Arcelik have decided to set up a $100 million joint venture for making a foray into India’s consumer durables market.

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