India's Voltas jumps as BNP Paribas sees strong summer demand boosting outlook

BNP Paribas SA

22/06/2026 05:29

** Shares of Voltas VOLT.NS rise as much as 5.1%; last up 2.3% at 1,373.5 rupees
** BNP Paribas re-iterates "Outperform" with TP of 1,470 rupees
** Brokerage says co likely sold more than 1 mln units in Q1, which could result in 33%-35% volume growth, helped by weak year-ago base and a sharp uptick in market share
** Notes co's potential for revenue uptick since concerns on co's margins due to elevated commodity costs, FX depreciation and staggered price hikes have been baked in May's stock price correction
** Expects 32%-35% revenue growth in co's unitary cooling products division
** Says secondary demand remains strong, while channel inventory levels are below normal
** Adds, a stronger summer could aid in sharper margin recovery via operating leverage and lower discounts
** Stock rated "Hold" on average by 37 analysts; median TP at 1,362.5 rupees
** YTD, stock up ~3%
     
     

 (Reporting by Mridula Kumar in Bengaluru)
 ((Mridula.Kumar@thomsonreuters.com;))