Voltas can test Rs 105-108, says Manghnani

Voltas can test Rs 105-108, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "Voltas is somewhat like an SBI trade where SBI bounced from Rs 1800 to Rs 2000 and then fell back and then started its major move. I think similar happened in Voltas where it had a sharp rally post its numbers and then you saw a significant correction. But at Rs 96 I think it’s done the correction. I think it’s headed back to Rs 105-108 sorts of levels."

Voltas trailing 12-month (TTM) EPS was at Rs 10.68 per share. (Mar, 2012). The stock's price-to-earnings (P/E) ratio was 9.50. The latest book value of the company is Rs 43.02 per share. At current value, the price-to-book value of the company was 2.36. The dividend yield of the company was 1.97%.