Voltas builds up on orders

Voltas is up on the buzz today. The stock is up 2.5% currently at Rs.97.35, with an intra day high at Rs.97.70. It still remains quite a distance from its 52-week high of Rs.116.75.

The stock is up after it announced having bagged Rs.1000 crore worth of orders from the Middle East. The first project is for a 120-bed integrated health centre and workers' hospital in Qatar; the second is for building a sports hall and administrative office in a 5,350-seat indoor stadium being built to host the World Cup Handball Competition scheduled for January 2015 in Qatar and the third project is for a 5-Star hotel - Kempinski Wave in Muscat.

The company has stated that things are looking up on its international order book as the Middle Eastern countries are getting ready to commit substantial funds for new construction, especially in infrastructure.