Symphony, Havells, Voltas shares soar on IMD's heatwave alert

Shares of fan, cooler and air conditioner makers jumped on Tuesday after weather forecaster India Meteorological Department (IMD) warned of a heatwave along with above-normal temperatures in most parts of south peninsula, central, east and plains of northwest India.

Shares of consumer durables manufacturer Voltas hit a 52-week high of ₹1,215 on the BSE, taking the Tata group company's market cap to around ₹40,000 crore. Havells, too, gained 2% to hit an intraday high of ₹1557 on the BSE. Shares of Blue Star, Crompton and Orient Electric also gained between 2.5% and 3%. Shares of water cooler maker Symphony rose 12% in the intraday trade to ₹971 on the BSE.

During the 2024 hot weather season (April to June), above-normal maximum temperatures are likely over most parts of the country, except some parts of east and northeast India and pockets of northwest India where normal to below-normal maximum temperatures are likely, the national weather forecaster says.

During the season, normal to above normal minimum temperatures are likely over most parts of the country except of some isolated areas in northeast and northwest India, where normal to below normal minimum temperatures are likely, it says.

For the month of April, more than normal maximum temperatures are likely over most parts of the country, the IMD predicts. However, isolated pockets of east, northeast and northwest India are likely to experience normal to below-normal maximum temperatures, it says.

Above-normal monthly minimum temperatures are most likely over most parts of India, except one or two pockets of northwest and northeast India where normal to below-normal minimum temperatures are likely during April 2024, says the IMD.

In April, above normal heatwave days are likely over many parts of south peninsula and adjoining northwest central India and some parts of east India and plains of northwest India, the IMD says.

“The rainfall during April 2024, averaged over the country as a whole, is most likely to be normal (88-112% of LPA). Normal to above-normal rainfall is likely over most parts of the northwest India and many parts of central India, north peninsular India, some parts of east and north east India. Below normal rainfall is likely along east and west coasts, some parts of east and northeast India and west central India,” it says.

During heatwaves, elevated temperatures pose significant risks, especially for vulnerable populations like the elderly, children, and those with pre-existing health conditions, who are more susceptible to heat-related illnesses such as heat exhaustion and heatstroke. Additionally, prolonged periods of extreme heat can lead to dehydration, and strain infrastructure such as power grids and transportation systems.