Hitendra Vasudeo of stockmechanics.com is of the view that traders can buy Voltas to achieve an intraday target of Rs 149.80.

According to Mr. Vasudeo, traders can buy the stock between Rs 135.90-128.10 with a stop loss of Rs 120.

Shares of the company, on Tuesday (June 09), closed at Rs 141.95 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 7.63 & 18.59 respectively.
The share price has seen a 52-week high of Rs 151.40 and a low of Rs 31.10 on BSE. 

Mr. Vasudeo also said that if the stock market remains on positive track, the next intraday target will be above Rs 171.60.

For the year ended March 31, 2009, Voltas declared that the consolidated net profit after minority interest and share of profit of associates surged to Rs 2,514 million as against Rs 2,076.80 million during the same period of the last year.

The company posted an increase of 21.05% its net income during the year.

Total income came up to Rs 44,069.20 million as compared to Rs 32,472.30 million in the previous year, an increase of 35.71%.

The company’s directors announced a dividend of Rs 1.60 per share for the year 2008-09.

On May 29, Voltas’s electro-mechanical business bagged two deals worth Rs 3 billion for electro-mechanical project from Chennai International airport and Kolkata`s Netaji Subhas Chandra Bose International (NSCBI) airport. 

The company will complete electro-mechanical order in 24 months for Kolkata and 21 months for Chennai.