Shares in Voltas fell sharply after Nomura downgraded the stock to a reduce. The stock was last trading at Rs 319.10 on the National Stock Exchange, down about 3 per cent over Monday's close.
Voltas is among the top manufacturers of air conditioners in the country and also has significant presence in engineering solutions and various projects. The company has engaged in various turnkey projects across the Middle East, Far East and South East Asia.
The shares of Voltas only recently in June hit a 52-week high of Rs 359 on the National Stock Exchange.
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