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    HomeNewsBusinessStocksAccumulate Voltas; target of Rs 340: Dolat Capital

    Accumulate Voltas; target of Rs 340: Dolat Capital

    Dolat Capital is bullish on Voltas has recommended accumulate rating on the stock with a target price of Rs 340 in its research report dated June 20, 2016.

    June 20, 2016 / 12:47 IST

    Dolat Capital's research report on Voltas

    We recently met the management of Voltas (VOLT) to know about the recent take on the RAC and projects business of the company. We understand that the company would execute majority of its legacy projects in FY17E and so the margin to remain subdued in FY17E. The growth momentum in the RAC segment tapered off towards the end of 1QFY17 after witnessing a good pick up in April.  
    Factoring revised execution in EMP segment we reduce our revenue CAGR of VOLT from 11% to 7.2% and reduce our consolidated PAT CAGR to 12% from 20%. We maintain our FY18E PE at 25x and revise our TP at Rs 340. We downgrade VOLT to Accumulate.  

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    first published: Jun 20, 2016 12:47 pm

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