Buy Voltas, target price Rs 1075: ICICI Direct

ICICI Direct has buy call on Voltas with a target price of Rs 1075. The current market price of Voltas Ltd. is Rs 1039.7.
Time period given by analyst is three days when Voltas Ltd. price can reach defined target.

Voltas Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 34400.43 Crore) operating in Consumer Durables sector.


Voltas Ltd. key Products/Revenue Segments include Electrical Goods, Contract Revenue, Sale of services, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 2794.75 Crore, up 3.36 % from last quarter Total Income of Rs 2703.78 Crore and up 50.24 % from last year same quarter Total Income of Rs 1860.17 Crore. Company reported net profit after tax of Rs 140.47 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 30.3 per cent stake in the company as of 31-Mar-2022, while FIIs owned 26.19 per cent, DIIs 27.84 per cent.