Multibagger Stocks: Voltas, a leading company in the refrigeration and air conditioning sector, which is part of the Tata Group, has given its investors a return of over 1 lakh rupees on an investment of just one lakh rupees over the past 20 years. Market experts are optimistic about the stock’s future growth potential, with domestic brokers predicting it could rise by around 16% from current levels. The company’s shares closed at 777.95 rupees on the BSE today, down 3.34% from the previous day’s close.
Power Ministry’s Decision Hits IEX Hard: India’s Power Ministry’s recent decision has had a heavy impact on the Indian Energy Exchange (IEX). Following a 15% decline, experts predict that IEX’s share price will continue to fall.
Over 20 Years, Investors Became Crorepatis: Voltas’ shares were trading at just 7.74 rupees on July 18, 2003. Now, the company’s shares are trading at 777.95 rupees, reflecting a return of over 99,500% for investors. An investment of one lakh rupees would have become one crore rupees. Despite experiencing a decline of over 31% in the past six months, the stock has now recovered more than 5% from its lows.
Lenders Dispute Byju’s Lawsuit: Lenders Group has recently disputed a lawsuit filed by Byju’s, stating that it is an attempt to avoid complying with obligations and is meritless.
What’s Next for Voltas’ Shares?: Voltas faced many challenges in FY23, with its cooling products’ market share continuously declining over the past two years. However, the company has focused on expanding its business in the solar, underground cabling, rural electrification process, water management, and cold storage industries. Despite a decline in its market share in room air conditioners, BOB Capital Markets has given the stock a hold rating and a target price of 900 rupees.
Disclaimer: The advice and opinions provided on Moneycontrol.com are those of the expert/brokerage firm and not of the website or management. Users are advised to seek the advice of certified experts before making any investment decisions.
Follow DelhiBreakings on Google News
Superfast News Coverage by DelhiBreakings.com team.
For Superfast national news and Delhi Breaking Stories visit us daily at https://delhibreakings.com
