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Last Updated : Mar 01, 2017 10:45 AM IST | Source: Moneycontrol.com

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.

 
 
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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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First Published on Mar 1, 2017 10:45 am
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