Voltas slips 8%, hits lowest level since January 2021 on demand concerns

The management expects demand in Q2FY23 to be subdued for cooling products due to low seasonal demand

Shares of Voltas hit a 52-week low of Rs 883.20 on the BSE as they slipped 8 per cent in Friday's intra-day trade amid concerns that te July-September quarter (Q2FY23) may see subdued sales numbers due to low seasonal demand. With today's intra-day decline, the stock has corrected 35 per cent from its 52-week high level of Rs 1,357 touched on October 19, 2021.

The stock of the company, which is a global air conditioning and engineering services provider of the Tata Group, has fallen below its recent low of Rs 923.50, touched on May 16, 2022. It traded