Hold Voltas, says Amol Rao

Amol Rao, Analyst at Anand Rathi Institutional Equities told CNBC-TV18, "We have a hold recommendation on Voltas because what we felt was that the international business which was undergoing some amount of challenges has not seen a resolution. There could be some amount of worry in terms of cash flows coming in projects which are stuck overseas. The domestic business has surprisingly and very heartily picked up. We are in the process of re-examining our recommendation on the stock, as of now we maintain our hold recommendation."

At 13:34 hrs Voltas was quoting at Rs 260.95, up Rs 13, or 5.24 percent. It has touched a 52-week high of Rs 262.80.