Short Voltas, says Aashish Tater

Aashish Tater of fortunewizard.com told CNBC-TV18, "In 2011, Voltas used to make the same profit and used to trade at Rs 220. Over last four years the company dwindle its margins and now it has been able to recover its margins. However, we are looking at its growth in terms of top-line which is missing for last five years. We feel that this particular stock has reached its target of Rs 310 on upside but we feel eventually it will correct and it should stabilise between Rs 260-275." "There could be some good upside, eventually the stock should correct to Rs 275 odd zone so we have a neutral target on this stock but we are not bullish on this particular stock because of maximum buying price overhang. The AC business is doing well but at current prices and seeing that last five years it has done nothing in terms of topline growth. We feel this is one stock which can be shorted at high levels," he said.