Tata Group is considering the sale of its home appliances business, Voltas, as it is finding it hard to expand the business in a highly competitive market.
According to media reports, India's largest conglomerate is in the initial stages of talks with other players in the market to sell its 30 per cent stake in Voltas. According to Bloomberg, Tata has not decided if the sale should include the consumer durables local joint venture of Voltas, Voltbek Home Appliances.
It is also possible that the Tata Group may decide to keep the asset for a bit longer.
Voltas makes air conditioners, water coolers, washing machines, refrigerators, and microwaves among other products.
Tata Group is yet to comment on the matter.
Shares of Voltas declined 1.70 per cent on Tuesday, to close at Rs 813.30 following the report.
