Voltas may test Rs 140-150, says Gautam Chhaochharia

Gautam Chhaochharia, head of India Research at UBS Securities says,"In terms of midcaps the names which we have been talking about and recommending to investors are names where the balance sheet is protected and the quality of the business is good, so one could see them bounce back much more reasonably. So the names are Voltas and Carborundum Universal that we have been recommending to investors."

"This recovery will not be in the form or as investors we should not be looking out for new green field announcements or sudden pickup or major order flows as such. But more getting the existing stuck projects of the ground, that is the sign one should be looking at when one is talking about recovery," he said. "For Voltas the price target is around Rs 140-150 and for Carborundum it is around Rs 170-180," he adds.