Engineering, air conditioning and refrigeration major, Voltas Limited, has rallied 6% to Rs 113 on reports that it has become market leader in the Rs 7,000-crore room air-conditioner market of India, surpassing Korean giant LG.
According to latest data from market researcher GfK-Nielsen India, Voltas’s volume market share in "brand outlets" - a key sales channel that accounts for almost 90% of AC dealerships-stood at 18.3% in May against 17.7% of LG.
The stock opened at Rs 108 and hit a high of Rs 114 on the National Stock Exchange. The trading volumes on the counter almost double, with a combined 3.28 million shares have already changed hands on the counter so far, against an average around 1.9 million shares that were traded daily in past ten trading days.
