Buy Voltas, target price Rs 1375: Yes Securities

Yes Securities has buy call on Voltas with a target price of Rs 1375. The current market price of Voltas Ltd. is Rs 1275.05. 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 42197.73 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
The stock is on the verge of a breakout from the neckline of an 'Ascending Triangle' pattern placed at Rs 1285, a successful breakout on healthy volumes will resume the uptrend. Further, shorter-term moving average crossing over medium term moving average confirms the bullishness building up. RSI has also turned upwards after taking support at the lower end of the bull zone.

Promoter/FII Holdings
Promoters held 30.3 per cent stake in the company as of 30-Sep-2021, while FIIs owned 22.31 per cent, DIIs 31.6 per cent.