Buy Voltas, target price Rs 1250: Kotak Securities

Kotak Securities has buy call on Voltas Ltd. with a target price of Rs 1250. The current market price of Voltas Ltd. is Rs 1220.7. Time period given by analyst is Intra Day 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 40377.86 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-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1737.35 Crore, down -6.60 % from last quarter Total Income of Rs 1860.17 Crore and up 5.24 % from last year same quarter Total Income of Rs 1650.80 Crore. Company reported net profit after tax of Rs 123.18 Crore in latest quarter.

Investment Rationale
After reversal from multiple support zone, the price and volume activity indicates bullish move

Promoter/FII Holdings
Promoters held 30.3 per cent stake in the company as of 31-Dec-2021, while FIIs owned 24.42 per cent, DIIs 29.76 per cent.