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Buy Voltas, target price Rs 700: Shrikant Chouhan

Shrikant Chouhan recommended to keep a stop loss at Rs 658.

ETMarkets.com|
Updated: Oct 18, 2019, 09.29 AM IST
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Voltas, incorporated in the year 1954, is a large cap company (having a market cap of Rs 22,371.12 crore) operating in the consumer durables sector.
Shrikant Chouhan of Kotak Securities Limited has a buy call on Voltas with a target price of Rs 700. The current market price of Voltas is Rs 680.3. Shrikant Chouhan recommended to keep a stop loss at Rs 658.

Voltas, incorporated in the year 1954, is a large cap company (having a market cap of Rs 22,371.12 crore) operating in the consumer durables sector.

Voltas key products/revenue segments include electrical goods which contributed Rs 3,651.10 crore to sales value (62.60 per cent of total sales), contract revenue which contributed Rs 1,579.31 crore to sales value (27.07 per cent of total sales), sale of services which contributed Rs 565.76 crore to sales value (9.70 per cent of total sales), other operating revenue which contributed Rs 32.10 crore to sales value (0.55 per cent of total sales) and scrap which contributed Rs 3.99 crore to sales value (0.06 per cent of total sales) for the year ending 31 March, 2018.

For the quarter ended 30-06-2019, the company has reported consolidated sales of Rs 2,646.67 crore, up 29.00 per cent from last quarter sales of Rs 2,051.63 crore and up 24.00 per cent from last year same quarter sales of Rs 2,134.41 crore. The company has reported a net profit after tax of Rs 187.67 crore in latest quarter. The company’s top management includes Anil George, Arun Kumar Adhikari, Bahram N Vakil, D Sarangi, Hemant Bhargava, Noel N Tata, Pradeep Bakshi, V Deshpande, Zubin S Dubash and Anjali Bansal. The company has S R B C & Co. LLP as its auditor. As on 30-09-2019, the company has a total of 330,884,740 shares outstanding.

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Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com & ETMarkets.com. Please consult your financial advisor before taking any position in the stock/s mentioned.

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