Sell Voltas Ltd., target price Rs 745: ICICI Direct

ICICI Direct has sell call on Voltas with a target price of Rs 745. The current market price of Voltas is Rs 755. Time period given by analyst is Intra Day when Voltas price can reach defined target. ICICI Direct recommended to keep stop loss at Rs 758.6.

Voltas, incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 25013.23 Crore) operating in Consumer Durables sector.

Voltas key Products/Revenue Segments include Electrical Goods, Contract Revenue, Sale of services, Other Operating Revenue and Scrap for the year ending 31-Mar-2023.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 3003.46 Crore, up 47.50 % from last quarter Total Income of Rs 2036.27 Crore and up 11.08 % from last year same quarter Total Income of Rs 2703.78 Crore. Company has reported net profit after tax of Rs 171.40 Crore in latest quarter.

The company’s top management includes Mr.Noel N Tata, Mr.Pradeep Bakshi, Mr.V Deshpande, Mr.D Sarangi, Mr.Saurabh Agrawal, Mr.Bahram N Vakil, Ms.Anjali Bansal, Mr.Arun Kumar Adhikari, Mr.Zubin S Dubash. Company has S R B C & Co. LLP as its auditors. As on 31-03-2023, the company has a total of 33 Crore shares outstanding.

Investment Rationale
Short term range breakdown signaling further downsides incoming sessions.