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Hold Voltas; target of Rs 1120: ICICI Direct

ICICI Direct recommended hold rating on Voltas with a target price of Rs 1120 in its research report dated May 10, 2022.

May 12, 2022 / 04:06 PM IST
 
 
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ICICI Direct's research report on Voltas


Voltas is a home appliances company specialising in air conditioning and air cooling technology in the B2B and B2C space. The company is a market leader with ~26% market share in RAC • Healthy b/s reflected by strong return ratios (RoE: ~11%, RoCE: ~15%).


Outlook


We maintain our HOLD rating on stock. We value Voltas at Rs 1120 using SOTP i.e. 9x P/E for EMPS, 9x P/E for EPS and 50x P/E for UCP on FY24E EPS for each.


For all recommendations report, click here

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first published: May 12, 2022 04:06 pm
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