News for Voltas Limited (VOLTAS.NS)

The Indian market is showing signs of stabilization despite global economic concerns and FII outflows. Nifty is in a corrective phase, with a trend reversal contingent on breaking the 23,807 level. The Bank Nifty remains range-bound, and select stocks like Kotak and HDFC Bank show potential. Metal stocks, especially Tata Steel and JSW Steel, are poised for upside, driven by global factors.

Life Insurance Corporation of India (LIC) reduced its stake in several NSE-listed companies in Q3 FY25, bringing its share by value down to 3.51% from 3.59% in Q2 FY25, according to primeinfobase.com, an initiative of the PRIME Database Group.Among the key stocks where LIC cut its holdings were Tata Power, Tata Chemicals, Voltas, Divi's Laboratories, CAMS, Coforge, and HPCL. Shift In Strategy

Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:

The NSE Nifty index closed 86.41 points up at 23249.5

Voltas shares plummet 11.40% on NSE due to Q3 margin disappointment and upcoming leadership changes.

The NSE Nifty index was trading 125.21 points up at 23288.3

Buzzing stocks, stocks to watch: Religare, ITD Cementation, MobiKwik, KFin Tech, ITC Hotels, Autoline Industries, OneSource, Lloyds Enterprises, HG Infra, Grasim

A total of 27,199 shares changed hands on the counter till 02:10PM (IST)

Notable companies selected include Hindalco Industries Limited, LG Electronics India Private Limited, Voltas Limited and Blue Star Climatech Limited, which committed a combined additional investment of ₹1,173 crore.

Mukundan Menon appointed President of RAMA, leading industry efforts in policy formulation and government collaboration for two years.

The stock quoted a 52-week high price of Rs 1946.20 and low of Rs 985.15.

Promoters held 30.3 per cent stake in the company as of 30-Sep-2024, while FII and DII ownership stood at 18.08 per cent and 24.36 per cent, respectively.

The stock quoted a 52-week high price of Rs 1946.20 and low of Rs 811.50.

The NSE Nifty index closed 314.66 points up at 24221.9

Promoters held 30.3 per cent stake in the company as of 30-Sep-2024, while FII and DII ownership stood at 18.08 per cent and 24.36 per cent, respectively.

India's largest institutional investor, LIC, has reduced its stake in over 100 NSE-listed companies, reaching a record low ownership of 3.59%. This move comes amidst a volatile market where FIIs have withdrawn significantly, impacting the Nifty. Despite this, experts believe India's valuation remains reasonable, with earnings growth expected to continue.

Five firms, including BSE, Oberoi Realty and Voltas, will be added to the MSCI India Index effective November 25, 2024.

Reliance-Disney merger nears completion, Atul Auto partners with Jio, Lemon Tree Hotels to open new property in Assam.

Indian indices hit record highs on Thursday, following the US Fed's rate cut. Analysts expect Nifty to consolidate in the 25,200-25,550 range unless it decisively breaks above 25,550. Support is at 25,350 and 25,175-200.