Stock market analyst Rashmi Mohta has maintained hold rating on Voltas Ltd stock for the target price of Rs 240.

The strict stop loss for the stock should be Rs 215.

Today, the stock of the company opened at Rs 219 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 223.15 and a low of Rs 144.10 on BSE.

Current EPS & P/E ratio stood at 9.74 and 23.18 respectively.

Voltas has bought 298,211 equity shares in its subsidiary, Rohini Industrial Electricals (RIEL) for an aggregate amount of Rs 199.7 million.

Now, the shareholding of Tata group enterprise in RIEL stands at 83.67% as against 67.33% of RIEL's equity capital.

During the last month, Voltas increased its equity stake in RIEL to 67.33% as against 51% previously

In April-June quarter of 2010, the company has recorded an increase of 18.12% in its consolidated net profit.

Voltas Ltd's net profit after minority interest was Rs 932.40 million for the three month period ended June 30 as against Rs 789.40 million during the same quarter of last year.

The company's consolidate total income for the period under review grew by 13.06% to Rs 14,283.50 million as compared to Rs 12,633.30 million for the quarter ended June 2009.

On standalone basis, Voltas's net profit after tax stood at Rs 846 million for the three month period ended June 30.