Buy Voltas, target price Rs 1105: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Voltas with a target price of Rs 1105. The current market price of Voltas is Rs 1059.35. Time period given by analyst is Intra Day when Voltas price can reach defined target.

Voltas Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 35047.31 Crore) operating in Consumer Durables sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2683.24 Crore, up 31.13 % from last quarter Total Income of Rs 2046.26 Crore and up 24.80 % from last year same quarter Total Income of Rs 2150.09 Crore. Company reported net profit after tax of Rs 260.89 Crore in latest quarter.


Investment Rationale
Surpassing previous resistance levels with price volume breakout after taking support near its 50-DMA.

Promoter/FII Holdings
Promoters held 30.3 per cent stake in the company as of March 31, 2021, while FIIs held 14.4 per cent, DIIs 37.5 per cent and public and other 17.9 per cent.