Buy Voltas, target price Rs 1110: Yes Securities

Yes Securities has buy call on Voltas with a target price of Rs 1110. The current market price of Voltas is Rs 1045.65. Time period given by analyst is Intra Day when Voltas price can reach defined target.

Voltas Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 34590.69 Crore) operating in Consumer Durables sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2683.24 Crore, up 31.13 % from last quarter Total Income of Rs 2046.26 Crore and up 24.80 % from last year same quarter Total Income of Rs 2150.09 Crore. Company reported net profit after tax of Rs 260.89 Crore in latest quarter.

Investment Rationale
Multiple month consolidation seems to be at its mature phase as the stock took support near its half-yearly mean. A positive follow-up action could lift the stock towards 1110.

Promoter/FII Holdings
Promoters held 30.3 per cent stake in the company as of March 31, 2021, while FIIs held 14.4 per cent, DIIs 37.5 per cent and public and other 17.9 per cent.