The stock hit a 52-week high of Rs 2063 on 31st May 2023, but it failed to hold on to the momentum. The stock closed at Rs 1826 on 8th January 2024, translating into a fall of over 11%.
The consumer durable stock rose from Rs 859 as of December 15, 2023 to Rs 947 recorded on 22nd December 2023 which translates into an upside of over 10% in a week.
The BSE Consumer Durable Monthly Chart index has recently experienced a breakout following a two-year consolidation patch. Notably, Voltas scrip is exhibiting the strongest bullish momentum.
The breakout has opened room for the stock to head higher and may even breach 1100 levels to hit fresh record highs in the next 2-3 months, suggest experts.