India's Voltas hits highest in almost two years; HSBC raises PT

Voltas

05/04/2024 08:53

** Indian air conditioner maker Voltas'  VOLT.NS  shares up
as much as 1.9% to 1,240.70 rupees, highest in almost two years
    * HSBC Global Research in a note on Thursday raised PT on
company's shares to 1,350 rupees from 1,250, maintained "buy"
rating
    ** Brokerage raised margin assumptions for company's air
conditioning products unit by 40-50 basis points over FY24-26
    ** Brokerage expects air conditioner manufacturers such as
Voltas to benefit from lower input costs, anticipating sharp
margin improvement
    ** Mean analyst rating "hold", with median PT of 1,097.50
rupees; HSBC's PT highest - LSEG

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330))