Buy Voltas; target Rs 255: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "My first recommendation is buy on Voltas for target price of Rs 255 keeping a stoploss at Rs 235. Fresh amount of long positions were seen getting build in this stock in past couple of days. Today also on intraday level good buildups are seen in this stock. Volumes are encouraging, it is been consolidating after its correction. So, it seems that the stock is likely to jump to the higher levels and if these levels are maintained a minimum target of Rs 255 is what I am looking at."

At 14:31 hrs Voltas was quoting at Rs 241.30, up Rs 1.45, or 0.60 percent.

The share touched its 52-week high Rs 286.50 and 52-week low Rs 97.05 on 24 November, 2014 and 28 January, 2014, respectively.

Disclosure: Analyst has no personal holdings in the above stock but it is possible that he may have recommended the  same to his clients at LKP securities.