India's Voltas back at record high on post-earnings rating upgrades, PT hikes

Voltas

19/08/2024 09:25

** Shares of Voltas  VOLT.NS  jump 4.7% to record high of
1,607 rupees, set to snap a three-day losing run
    ** Stock's previous record high was 4 sessions back on Aug
12 after strong Q1 results
    ** Over the weekend, analysts updated their views, with at
least 17 raising their price targets, per LSEG data
    ** Prabhudas Lilladher upgrades to "hold" and Anand Rathi
Research to "buy"
    ** Anand Rathi says Voltas "firing on all cylinders", noting
strong air conditioner sales and continued market share gains in
refrigerators and washing machines
    ** Analysts avg rating still at "hold" but median PT jumps
to 1,559 rupees from 1,400 rupees on results day -LSEG data
    ** Stock jumped 11% on Aug 12 after Q1 report but dropped
~3% in next three sessions
    ** VOLT has jumped ~64% YTD, more than Crompton Greaves
 CROP.NS  (~44%) and Havells India  HVEL.NS  (~38%) but less
than Blue Star's  BLUS.NS  83% surge

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))