Voltas shares fall over 6% from intraday high as brokerages differ after Q1 results
The stock traded 4% lower at ₹1,270.40 on the NSE at 12.42 pm, after moving between ₹1,263.90 and ₹1,350
Voltas shares experienced a sharp decline of over 6% from their intraday peak on Monday following a mixed response to the company's Q1FY27 results. The stock closed at ₹1,270.40 on the NSE after fluctuating between ₹1,263.90 and ₹1,350. Despite a 51.3% rise in consolidated net profit to ₹212.76 crore, driven by strong performance in room air conditioners, brokerages gave divergent reactions.
Citi maintained a buy rating with a target price of ₹1,550, noting a 45% year-on-year increase in room AC sales. UBS also retained a buy rating with a target price of ₹1,560, highlighting that revenue and EBITDA missed estimates, but PAT exceeded expectations. CLSA, however, kept an underperform rating, pointing to low margins despite strong volume growth and price increases.
CLSA also mentioned a potential delay in margin recovery due to low growth in projects and margin concerns.
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