Feb 16, 2013, 01.47 PM | Source: CNBC-TV18
According to Ambareesh Baliga, Independent Analyst, one can buy Voltas at around Rs 87 with a target price of about Rs 110-112.
Ambareesh Baliga (more)
Market Analyst, Independent | Capital Expertise: Equity - Fundamental ,IPO
Baliga told CNBC-TV18, “A dark horse again - Voltas where we saw a turnaround in the third quarter results. Although the operating profits are slightly lower than expected I expect the margins to improve going ahead. After the results we saw some correction. It has come down to levels of Rs 87 and I think at these levels one can buy it with a target price of about Rs 110-112. It could take possibly about next four to six months, but we should be able to reach those levels.”
Voltas closed at Rs 87.40, down 1.69 percent on Friday after hitting a 52-week low of Rs 86.55 during the day.
HDFC Securities is bullish on Voltas has recommend
Edelweiss is bullish on Voltas has recommended buy
ICICI Direct is bullish on Voltas has recommended
Ashwani Gujral of ashwanigujral.com is of the view
Tata Group firm Voltas today reported a 42.28 perc