For Quick Alerts
For Daily Alerts

Voltas Jumps Over 11% On Q4 Results, Brokerage Calls


On Monday, shares of Voltas Limited jumped nearly 11 percent to Rs 531.60 apiece on NSE after the company reported its Q4 numbers.

The consumer durables maker reported a 12.5 percent jump in its consolidated net profit for the March ended quarter at Rs 159.5 crore against Rs 141.74 crore for the same period a year ago. Voltas' board recommended a dividend of Rs 4 per share for the financial year 2019-20, subject to the approval of shareholders.

Voltas Jumps Over 11% On Q4 Results, Brokerage Calls

Credit Suisse has an "outperform" rating for the stock in a large long-term opportunity and has cut the price target from Rs 725 to Rs 650. It has revised earnings for FY21 and FY22 to 9 percent and 7 percent, respectively, to account for the impact of longer lockdown.

It also said that the key risks for the company are related to weather dependency in AC segment and strong competition.

Morgan Stanley has an 'Equal-weight' rating on the stock with a price target of Rs 519 per share.

Jefferies has a 'Buy' rating on the stock with a target of Rs 519 per share and said that results will be viewed favourably by investors in the context of COVID-19 impact. "The engineering business revenue was down 18 percent YoY and led to the 10 percent profit miss," it added.

Voltas Limited's unitary cooling segment revenue was up 20 percent year-on-year and its margin improved by 420 basis points.

Read more about: voltas
Story first published: Monday, June 1, 2020, 11:25 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more