India's Voltas falls as brokerages lower earnings forecast on sales drop due to rains

Voltas

18/06/2025 06:57

** Shares of Voltas VOLT.NS fall as much as 2.53% to 1,261.50 rupees apiece

** AC maker's stock last down about 2%

** Multiple brokerages lower PT and earnings expectations, flag sales decline due to unseasonal rains in May and June

** Jefferies cuts FY28 EPS estimates by 6%, PT to 1,680 rupees from 1,790 rupees; rating "buy"

** Citi and Morgan Stanley say VOLT faces challenging FY26Q1; Citi PT 1,850 rupees, rating "buy"; MS PT 1,526 rupees, rating "overweight"

** Nuvama cuts PT to 1,190 rupees from 1,250 rupees, maintains "hold" rating

** Motilal Oswal and DAM Capital downgrade to "neutral" from "buy" with PT 1,350 and 1,370 rupees, respectively

** Avg rating of 35 analysts tracking VOLT is "buy", median PT 1,370 rupees- data compiled by LSEG

** YTD, VOLT down 28%, Nifty mid-cap index .NIFMDCP100 up 1.7%

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))