Buy Voltas, target price Rs 1310: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Voltas Ltd. with a target price of Rs 1310. The current market price of Voltas is Rs 1253.1. 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 41443.31 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 31-12-2021, the company reported a Consolidated Total Income of Rs 1822.34 Crore, up 4.89 % from last quarter Total Income of Rs 1737.35 Crore and down -10.94 % from last year same quarter Total Income of Rs 2046.26 Crore. Company reported net profit after tax of Rs 128.56 Crore in latest quarter.

Investment Rationale
Price volume breakout with higher highs-higher lows from four sessions, closed above its 50 EMA

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.