Voltas may go to Rs 300-310: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "When results were announced by Voltas two days back at that time I said that I am not impressed with the unitary cooling division because that has given the flat performance on year-on-year (YoY) basis. The project division has indicated some kind of growth and where it was expected that probably the Middle East region will be giving them good growth, but if the management is throwing caution on that also honestly I don’t see any reason and if you really see the run up having taken place in the share price it doesn’t justify moving beyond that.""At that point of time also I have said that I don’t think that the share price can go beyond this and I won’t be a buyer, but looking to this commentary where they have given a flat or may be the muted kind of outlook on the domestic as well as on the project division front, there is no reason and I won’t be surprised to see the share taking a further beating from here on because the typical nature of this stock is that this is in fact a high beta kind of stock which if it corrects, it corrects quickly by may be about Rs 30-40 in may be couple of weeks time. I won’t be surprised to see the share again moving back to the level of Rs 300-310," he added.