Technical analyst Rajesh Satpute is bullish on Voltas Limited and has maintained 'buy' rating on the stock.

According to the analyst, the interested investors can buy the stock with an intra-day target of Rs 164.

The stock can be bought with a stop loss of Rs 154.

The stock of the company, on March 15, closed at Rs 151.75 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 16.78 respectively.

Voltas announced that it projects a 50% increase in the sales of ACs by 2011-12 end at 12 lakh units.

Tata Group firm, which is expected to end this financial year with 8 lakh units, stated that it has decided to raise production capacitance to meet up demand while also building up research as well as growth.

The company has set aside an investment of around Rs 65 crore to swell its manufacturing plants and on marketing actions in the forthcoming financial year.

Voltas Ltd. Chief Operating Officer (Units Products Business Group) Pradeep Bakshi stated, "We plan to sell around 1.2 million units of ACs by the next fiscal. By 2015, our aim is to sell 3 million units."

The company is also making attempts to strengthen its manufacturing capacitance to 8 lakh units as against 5 lakh units in its two plants situated at Pantnagar in Uttarakhand, in addition to upgrading its research and development centre.

In addition, the company has rolled out its novel, influential collection of ACs in the capacity band of 0.75 tons to 3 tons.

Voltas Ltd has decided to penetrate the market with a diverse set of 70 ACs.