Voltas came out with Q3 FY17 with flying colors even though
they faced the music of demonetization drive. Their consolidated profit
increased to 81 crore including the gain from investment whereas their Profit
before tax stood at 12t Crore.
The high margin AC business observed degrowth due to demonetization and expected to recover
as summer seasons sets in by the end of Q4. The effective cost efficiency helped company to showcase
better than expected result. For the past two months Voltas share was moving in
the range to 325 to 355 INR in fear of demonetization impact. As the air is
clear and it is expected that the share price of Voltas will shoot to 425 to
450 range in next months.
IT is advisable to invest in Voltas with a view of 7 to 9
months of investment and must avoid F&O market.
Disclaimer : Consult your financial advisor before
investing.
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