Moneycontrol
Last Updated : Aug 13, 2018 02:28 PM IST | Source: Moneycontrol.com

Voltas gains 1%; Deutsche Bank maintains hold with target Rs 500

Worst is not over for cooling business and expect margin to be decline, while cooling business valuations look high, but at discount to peers, says Deutsche Bank.

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Share price of Voltas rose 1.7 percent intraday Monday as Deutsche Bank has maintained hold on Voltas and raised target to Rs 500 from Rs 490 per share.

This is a strong outcome in a tough environment. Its projects business is strong, said Deutsche Bank.

Worst is not over for cooling business and expect margin to be decline, while cooling business valuations look high, but at discount to peers, research house further added.

CLSA has maintained sell rating on Voltas, while raised target to Rs 480 from Rs 460 per share.

This is a weak quarter as AC market has disappoint and hoping shifts to festive season. With AC business trading at high valuation, stock not ready for any negative surprises, it added.

At 14:20 hrs Voltas was quoting at Rs 627.40, up Rs 7.25, or 1.17 percent on the BSE.

Posted by Rakesh Patil
First Published on Aug 13, 2018 02:28 pm
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