Voltas Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 26020.78 Crore) operating in Consumer Durables sector.
Getty ImagesPromoters held 30.3 per cent stake in the company as of Sept 30, 2020, while FIIs held 12.4 per cent, DIIs 39.2 per cent and public and others 18 per cent.
Motilal Oswal has given a neutral rating to Voltas with a target price of Rs 775 The share price moved down by 0.31 per cent from its previous close of Rs 791.45. The stock’s last traded price is Rs 788.25.
Voltas Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 26020.78 Crore) operating in Consumer Durables sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1587.55 Crore, up 24.93 % from last quarter Sales of Rs 1270.76 Crore and up 12.19 % from last year same quarter Sales of Rs 1415.02 Crore Company reported net profit after tax of Rs 86.72 Crore in latest quarter.
Investment Rationale At CMP, the UCP business is trading at FY22/FY23E P/E of 49x/43x. The brokerage downgrades the stock to Neutral, with TP of INR775 (prior: INR710). Voltas remains preferred play in the underpenetrated AC industry in India. It awaits a better entry point for the stock.
Promoter/FII Holdings Promoters held 30.3 per cent stake in the company as of Sept 30, 2020, while FIIs held 12.4 per cent, DIIs 39.2 per cent and public and others 18 per cent.
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