BSE Code: | NSE Code: | ISIN: | Sector:

NSE
543.85
Change Change %
10.50 1.97%

Updated:23 Oct, 2017, 15:55 PM IST

BSE
543.00
Change Change %
9.20 1.72%

Updated:23 Oct, 2017, 15:52 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
HDFC Securities
N/A
15-09-2017 Buy 538.25 619.00
N/A
Open Long (1Y)
15-09-2018

HDFC Securities maintains buy on Voltas

We are encouraged by healthy underlying demand in the consumer business, and voltas'(VOLT) focus on sustaining the project's EBIT margin of 4-5% (aim to achieve 7%). We maintain our positive bias on the consumer business, despite near-term disruption through channel destocking and change in energy efficiency norms (from Jan-18). We remain constructive on VOLT, given favourable macros in the AC industry (low penetration and increasing affordability) and foray into other consumer durable categories will provide multi-year growth visibility. We expect a revenue/PAT CAGR of 14% each over FY17-20E, based on which we arrive at a TP of Rs 619.

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