Voltas Ltd. Stock Sees -3.47% Dip, But Remains Strong in Air Conditioning Industry
On June 19, 2024, Voltas Ltd.'s stock price decreased by -3.47%, despite hitting a new 52-week and all-time high of Rs.1550.5. The stock is currently trading above its moving averages, indicating a positive trend. However, the air conditioning sector has seen a decline of -2.37%. Voltas Ltd. has outperformed the Sensex in the past month with a 14.36% increase. MarketsMojo recommends holding positions in the stock.
Voltas Ltd., a leading player in the air conditioning industry, saw a dip in its stock price by -3.47% on June 19, 2024. The stock has been given a 'Hold' call by MarketsMOJO, a leading financial advisory firm.
Despite the dip, Voltas Ltd. has been performing well in the market. The stock hit a new 52-week and all-time high of Rs.1550.5 on the same day. However, it underperformed the sector by -1.38% and saw a trend reversal after three consecutive days of gains. The stock touched an intraday low of Rs.1480.25, a decrease of -3.6%.
Voltas Ltd. is currently trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. However, the air conditioning sector as a whole has seen a decline of -2.37%.
In comparison to the overall market performance, Voltas Ltd. has seen a -3.46% decrease in its stock price, while the Sensex has seen a 0.48% increase. However, over the past month, Voltas Ltd. has outperformed the Sensex with a 14.36% increase compared to the Sensex's 4.95% increase.
Overall, Voltas Ltd. remains a strong player in the air conditioning industry with a large market cap. Investors are advised to hold their positions in the stock, as per MarketsMOJO's recommendation.
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