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    HomeNewsBusinessStocksHold Voltas; target of Rs 320: Axis Direct

    Hold Voltas; target of Rs 320: Axis Direct

    Axis Direct recommended hold rating on Voltas with a target price of Rs 320 in its research report dated February 27, 2017.

    A Balasubramanian
    March 01, 2017 / 12:30 IST
    A worker observes an electric arc furnace in a steel factory of Store Steel in Store, Slovenia November 17, 2016. REUTERS/Srdjan Zivulovic - RTX2U61W

    Axis Direct's research report on Voltas

    Unitary cooling segment (45% of revenue) was hit by demonetization (short-term impact); however, we remain hopeful of it recovering given under-penetration in room air conditioners and higher disposable income. We expect AC business to maintain 13% EBIT margin given rational marketing spend and cost controls.

    Outlook

    Maintain HOLDwith TP of Rs 320 (20x FY18E EPS). Our FY17 and FY18 EPS stand at Rs 12 and Rs 15.

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    A Balasubramanian
    first published: Mar 1, 2017 12:30 pm

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