Buy Voltas With Stop Loss Of Rs 190

Buy Voltas With Stop Loss Of Rs 190Stock market analyst Deepak Singh has maintained 'buy' rating on Voltas Ltd stock to achieve an intra-day target of Rs 206.

According to analyst, the investors can buy the stock with stop loss of Rs 190.

The shares of the company, on June 21, closed at Rs 117.50 the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 198.40 and a low of Rs 117 on BSE. Current EPS and P/E ratio of the stock stood at 9.31 & 21.49 respectively.

During the last month, Voltas Ltd entered into a JV deal with the Mustafa Sultan Enterprises LLC of Oman.

The JV, which will be 65% possessed by Voltas and 35% by the Sultan group, may establish a combined liability company that will then become Voltas's division.

Voltas announced 51.08% increase in its consolidated PAT, which stood at Rs 384.56 crore for the last financial year as compared to Rs 254.54 crore in 2008-09.

The total consolidated income of the company during the last fiscal grew by 10.59% to Rs 4,823.60 crore as against Rs 4,361.72 crore in 2008-09.

Moreover, the company has declared a 200% dividend of Rs 2 a share on the face value of Re 1 each for FY'10.