Tata Group is considering selling the home appliance operation of Voltas Limited as the Indian business tycoon has been facing difficulties in scaling up the business in a competitive market, according to the sources. However, the company has not made any official statement on this so far. Meanwhile, the people who are known to the subject said that Tata Groups management is considering the sale of Voltas and hasnt decided whether to include its local joint venture with Arcelik AS in the deal. Though the report did not give the financial numbers.According to the sources, Tata Group may choose to hold onto the asset for a longer period of time given the preliminary considerations. This year, Voltass Mumbai share price has increased by almost 3%, making the firm worth approximately $3.3 billion.According to the website, Voltas founded in 1954, manufactures products including air conditioners and water coolers as well as commercial refrigeration units. Currently, it has a presence across India, the Middle East, Southeast Asia and Africa.
