Sell Voltas, target price Rs 800: Yes Securities

Yes Securities has sell call on Voltas with a target price of Rs 800. The current market price of Voltas Ltd. is Rs 874.15.
Voltas Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 28916.02 Crore) operating in Consumer Durables sector.

Voltas Ltd. key Products/Revenue Segments include Electrical Goods, Contract Revenue, Sale of services, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 2794.75 Crore, up 3.36 % from last quarter Total Income of Rs 2703.78 Crore and up 50.24 % from last year same quarter Total Income of Rs 1860.17 Crore. Company reported net profit after tax of Rs 140.47 Crore in latest quarter.

Investment Rationale
Stock is continuously trading below its 10-column average on P&F chart, implying weakness

Promoter/FII Holdings
Promoters held 30.3 per cent stake in the company as of 31-Mar-2022, while FIIs owned 26.19 per cent, DIIs 27.84 per cent.