Buy Voltas; target of Rs 1260: Dolat Capital Market

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Dolat Capital Market's research report on Voltas

We interacted with the management of Voltas for an update. Industry prospects are looking bright with the anticipated severity in the summer. Voltas aims to continue with its market leading share without sacrificing margins and reckons the current 5-6% price increase should cover current commodity costs. It may take a further view on pricing depending on input costs and channel response in the coming weeks. The views on restructuring, engineering business and Beko were largely in line with the narrative of the Q3 conference call. Voltas continues to remain our pick among AC players.

Outlook

As industry focus shifts to the summer months, Voltas remains the pick for playing the AC penetration theme. We maintain Buy with a TP of Rs1260, valuing it at 50x Sep22E.

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Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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