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The global brokerage firm UBS upgraded Voltas' rating from 'Neutral' to 'Buy', raising the target price to Rs 1800 from Rs 885 previously. This adjustment suggests an upside potential of 38% from the previous close of Rs 1300.
The company's joint venture (JV) with Turkey’s Arcelik is expected to boost market share and profitability as its poised to break even in FY26.
HSBC is bullish on the stock. It has maintained a ‘buy’ rating on the stock expecting that the company's unitary cooling products (UCP) division will witness a significant increase in profitability.
This is giving undue advantages to air cooling solutions players discounting the higher demands in Q1FY25 sales. Over the medium-term, demand outlook we expect a higher 2 digit sales growth can be reported due to warning headlines, said Prashanth Tapse, Mehta Equities Ltd.
Instead of the heat wave, factors such as increase in affordability of products and steady launches of differentiated products for driving FMEG firms' revenues.