Buy Voltas, target price Rs 1021: ICICI Direct

Buy Voltas, target price Rs 1021:  ICICI Direct

ICICI Direct has buy call on with a target price of Rs 1021. The current market price of Voltas Ltd. is Rs 1002.1.

Voltas Ltd., incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 33402.81 Crore) operating in Consumer Durables sector.

For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 2046.26 Crore, up 23.96 % from last quarter Total Income of Rs 1650.80 Crore and up 32.29 % from last year same quarter Total Income of Rs 1546.76 Crore. Company reported net profit after tax of Rs 148.70 Crore in latest quarter.

Investment Rationale
Price forming base at 50 day EMA & higher high on daily charts

Promoter/FII Holdings
Promoters held 30.3 per cent stake in the company as of Dec 30, 2020, while FIIs held 14.6 per cent, DIIs 37.4 per cent and public and others 17.8 per cent.

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