Voltas share price today: Kotak Institutional Equities maintains Sell rating, raise target to Rs 785
Voltas share price today: Voltas reported a better than expected performance. Overall revenues grew 32.5% yoy driven by the UCP segment (up 40% yoy) due to robust festive demand and pre-stocking in anticipation of price hikes. EMP margins may remain under pressure in FY2021E. Kotak Institutional Equities upgrade FY2022-23 EPS estimates on stronger UCP sales. The current share price of Voltas is flat today trading at Rs 1060.
Kotak Institutional Equities raise FV to Rs 785 (Rs 655 earlier); maintain SELL rating on Voltas: Reuters