Voltamp Transformers Shares Drop After ₹618 Crore Block Deal

2025-09-09 05:02:04

(MENAFN- AsiaNet News)

Voltamp Transformers shares fell 3% on Tuesday, following a large block deal that saw 8% of equity change hands.

8.12 lakh shares of Voltamp Transformers, which represent 8% equity, worth ₹618 crore, reportedly changed hands at ₹7,611 per share through block trades. Reports suggest that promoter Kunjal Patel could be selling the shares. This is the second stake sale by Patel in the firm. He had sold a 12% stake in September 2023.

Technical Outlook

SEBI-registered analyst Financial Sarthis highlighted that Voltamp recently closed below the 61.8% Fibonacci retracement level, positioning the stock near its long-term trendline support. The trend has shifted on the weekly timeframe following this breakdown, which suggests potential caution for investors.

They identified support at ₹6,500 at the trendline, with key resistance at ₹8,150, aligned with Fibonacci levels.

A decisive breakout above resistance or a further breakdown below support will determine the next move. Volume activity also signals caution, as the recent red volume spike highlights selling pressure, and a shift toward stronger green volume will be necessary to confirm any potential reversal.

What Is The Retail Mood?

Data on Stocktwits shows that retail sentiment has been 'bullish' on this counter for a month.

Voltamp sentiment and message volume on Sep 9 as of 12:30 pm IST. | source: Stocktwits

Voltamp shares have declined 25% year-to-date (YTD).

For updates and corrections, email newsroom[at]stocktwits[dot]com.

MENAFN09092025007385015968ID1110035703

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.