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.