Stay invested in Voltas: Rajesh Agarwal

Stay invested in Voltas, says Rajesh Agarwal, Head of Research at Eastern Financiers.

Agarwal told CNBC-TV18, "Voltas - although the fundamentals are in a very bad shape, last quarter numbers were pretty bad with around 55% drop in PAT. This quarter also we believe the numbers would be subdued because of slower capex cycle not only in domestic market but also problems from the Qatar project. But on the valuation parameters all the negative has already been discounted and one can continue holding the stock with a price target of maybe Rs 110-115 in the next 6-9 months."
He further added, "We believe that interest rate cycle has already peaked out and once the interest rate starts coming in it