Technical analyst Rajesh Satpute is bullish on Voltas Limited and has maintained 'buy' rating on the stock to attain a target of Rs 168.

Mr. Satpute said that the investors can buy the stock with a stop loss of Rs 150.

The stock of the company, on March 21, closed at Rs 154.80 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 16.66 respectively.

Voltas Ltd announced that its directors have given nod to the plan for forming a JV with Linde Material Handling GmbH in order to establish a joint venture in the country for the expansion, fabrication, and servicing of forklifts and warehousing tools.

According to the deal, Voltas's materials handling biz will be incorporated into a novel JV firm, in which Linde Material Handling will possess a majority equity stake.

The new JV firm will be named 'Voltas Materials Handling' (VMH) and is likely to start functioning by the coming month.

As the KION Group's six division, Voltas will be utilized by VMH to concentrate on the Indian market with a product assortment comprising diesel/LPG and electric trucks with weight capacitances of 1.5 to 16 tons.

VMH will have 25 division and franchises all over the Indian market.