Stock market analyst Rajesh Jain of SMC Global Securities has maintained 'buy' rating on Voltas Ltd stock to achieve an intraday target of Rs 189

According to analyst, the investors can buy the stock with stop loss of Rs 182.

The stock of the company, on June 08, closed at Rs 185.45 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 191.40 and a low of Rs 117 on BSE. Current EPS and P/E ratio of the stock stood at 9.31 & 19.99 respectively.

Voltas Ltd, a part of the diversified Tata Group, entered into a JV deal with the Mustafa Sultan Enterprises LLC of Oman.

The JV will smooth the progress of Voltas's foray into Oman in the electromechanical section.

The joint venture may establish a combined liability company that will then become a division of Voltas.

Voltas recorded a 51% jump in its consolidated net profit, which stood at Rs 385 crore as against Rs 255 crore a year ago as big foreign projects helped the company to improve its earnings. Company's total revenue increased by 10% to Rs 4,830 crore as compared to Rs 4,374 crore in the last year.

EPS stood at Rs 11.51 compared to Rs 7.60.