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Company Update: Voltas Ltd - ACCUMULATE - TP Rs.500 - Kotak



Posted On : 2017-06-23 21:52:20( TIMEZONE : IST )

Company Update: Voltas Ltd - ACCUMULATE - TP Rs.500 - Kotak

The voltas management highlighted some deceleration in room AC segment arising out of disruption from GST rollout. While we continue to like the room AC industry due to its strong growth outlook, we see risk of near-term hiccups in earnings due to GST rollout/high base effect of Q1FY17. Consequently, we have reworked our earnings projections. This has led to marginal revision in our target price, which now stands at Rs 500 (Rs 506 earlier). In view of the modest upside, we recommend Accumulate (BUY on declines).

Shares of VOLTAS LTD. was last trading in BSE at Rs.454.15 as compared to the previous close of Rs. 465.15. The total number of shares traded during the day was 69316 in over 1533 trades.

The stock hit an intraday high of Rs. 465.85 and intraday low of 450. The net turnover during the day was Rs. 31557285.

Source : Equity Bulls

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