Voltas Shares Drop 3% Amid Subdued Demand Forecasts

• Voltas shares fell nearly 3% on December 19 following an analyst meeting.
• Brokerages anticipate subdued demand in Q3 and rising cost pressures.
• HDFC Securities cut FY26 revenue estimates, expecting subdued growth until FY27.
• Elevated channel inventory, input costs, and depreciating rupee are key concerns for margins.
• Despite some easing volume pressures, the near-term outlook remains cautious.

Why It Matters: Voltas shares fell as brokerages predict subdued demand and margin pressure, despite some easing volume concerns.