Anand Rathi has given Buy recommendation for Voltas with a target price of Rs. 1400 in its research report issued on Feb 16, 2022
Anand Rathi’s research report on Voltas
Rising mercury levels can brighten the outlook for Voltas’ UCP category, impelling us to upgrade the stock to a Buy despite a slower pace of order inflows in its projects business and mounting losses in Voltas Beko JV. Hence, we lower revenue/net income 11%/13% over FY22-FY24.
We upgrade the stock to a Buy based on a sum-of-parts valuation of Rs1,400 (earlier TP Rs1,367, 43x FY24e EPS of Rs32).
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At 13:53 hrs Voltas was quoting at Rs 1,221.85, up Rs 11.45, or 0.95 percent.
It has touched an intraday high of Rs 1,224.45 and an intraday low of Rs 1,201.75.
It was trading with volumes of 16,517 shares, compared to its thirty day average of 66,348 shares, a decrease of -75.11 percent.
In the previous trading session, the share closed up 1.38 percent or Rs 16.50 at Rs 1,210.40.
The share touched its 52-week high Rs 1,356.90 and 52-week low Rs 918.00 on 19 October, 2021 and 19 April, 2021, respectively.
Currently, it is trading 9.95 percent below its 52-week high and 33.1 percent above its 52-week low.
Market capitalisation stands at Rs 40,429.15 crore.