Technical analyst Manoj Sachdeva of Hem Securities is bullish on Voltas Limited and has maintained 'buy' rating on the stock with a target of Rs 196.

The analyst said that the stock of the company can be purchased with a stop loss of Rs 176.

The stock of the company, on April 04, closed at Rs 180.20 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 262.50 and a low of Rs 148 on BSE.

Current EPS & P/E ratio stood at 9.48 and 19.45 respectively.

As per reports, Voltas Ltd. and Germany's Kion Group GmbH decided to set up a JV for formulating, fabricating and servicing forklift trucks and warehousing tools in the country.

The JV, to be constituted with Kion Group division Linde Material Handling GmbH, is likely to commence operations this month.

The reports added that Kion Group will possess a majority equity stake in the JV.

In addition, Voltas has inked a memorandum of understanding (MoU) with Mustafa Sultan Group to set up a JV firm in Sultanate of Oman.

The said JV company would involve in the biz of executing electro-mechanical projects in the Sultanate of Oman.