The firm had a market worth of 274.20 billion rupees ($3.29 billion) as of Monday.
Last month, Voltas’s second-quarter revenue fell in need of market expectations as a result of greater uncooked materials prices.
residence home equipment
enterprise of Voltas, during which it has an almost 30% stake, because the conglomerate expects difficulties in scaling it up in a aggressive market, Bloomberg News reported on Tuesday.
The concerns are at an early stage and Tata has not but determined if the sale will embody Voltas’ client durables native three way partnership, Voltbek Home Appliances, Bloomberg reported, citing individuals conversant in the matter.
The report didn’t give monetary particulars of the deal.
Voltas, which makes air conditioners and water coolers amongst different merchandise, and the salt-to-software program conglomerate Tata group didn’t instantly reply to Reuters’ request for remark.
Voltas’s shares fell almost 2% to a session-low of 812.5 rupees on the report. The firm had a market worth of 274.20 billion rupees ($3.29 billion) as of Monday.
Last month, Voltas’s second-quarter revenue fell in need of market expectations as a result of greater uncooked materials prices.
(This story has not been edited by News18 employees and is printed from a syndicated information company feed – Reuters)
