LIC boosts stake in Voltas, raises holding by 2% via market purchase; now holds over 7%

Life Insurance Corporation of India (LIC) has increased its stake in Voltas, one of the country’s leading air conditioning and cooling solutions companies, by over 2%. This fresh acquisition comes at a time when the Tata Group stock has been under severe volatility.

In a regulatory filing today, November 24, the insurance giant said it had bought 67.44 lakh shares of Voltas, representing a 2.038% stake, between September 25, 2025, and November 21, 2025, nearly two months. The acquisition was made through the open market; however, LIC has not disclosed the acquisition price of the shares.

Prior to this purchase, LIC held a 5.05% stake, or 1.67 crore shares, in the company. With the latest addition, its ownership has risen to a 7.089% stake, or 2.34 crore shares, as per the regulatory filing.

Voltas Q2 performance

The Tata Group company reported a weak set of numbers for the September quarter, as a subdued summer season and GST-related demand deferment weighed on its cooling business, resulting in a 76.28% drop in consolidated net profit to ₹31.5 crore.

It had posted a consolidated net profit of ₹132.83 crore in the July-September period a year ago. At the top line, revenue from operations declined 10.37% to ₹2,347.32 crore, compared to ₹2,619.11 crore in the corresponding quarter last year.

Looking at segment-wise performance, revenue from unitary cooling products for comfort and commercial use, which includes the room AC business, fell 23.2% to ₹1,215.13 crore, down from ₹1,582.19 crore in the same period last fiscal.

Unitary Cooling Products faced muted retail offtake due to the lag effect of an early monsoon and the GST rate reduction from 28% to 18%, which led to deferred purchases and higher channel inventory. Margins were impacted by higher marketing support and under-absorption at new facilities in Chennai and Waghodia.

Meanwhile, revenue from "electro-mechanical projects and services," which includes domestic and international project businesses, rose 9% in Q2FY26 to ₹966.17 crore.

Voltas share price trend

The company’s share price has rebounded from the May lows, gaining 30% since then. However, the stock still trades 30% below January highs and 35% below its peak of ₹1,944 per share. On a yearly basis, the stock is down 24.32% year-to-date. If the current trend continues, it will mark Voltas’ first annual decline in two years.

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