Thursday, November 29, 2012
Voltas Ltd: An Explosive Chart
Emkay Global Financial Services Ltd maintains a positive bias on Voltas Ltd in view of strong ROCE (+25%), net cash surplus status and strong balance sheet – relative to peer-set. Voltas Ltd has completed the second techno-commercial audit of the project. It indicated provisioning already taken on the project as adequate after considering further upward revision in costs alongside negotiations for variations with the customer The brokerage house has advised the clients to Accumulate with price target of Rs121. The current market price of the scrip is Rs.107.20.