look news india
tata group stock : If you are thinking of betting on any stock of Tata Group, then there is news for you. You can focus on the shares of Tata Group company Voltas. Market experts are enthusiastic about the company's shares and are advising to buy it. Last Friday, April 5, Voltas shares closed at Rs 1,241.05 per share with a gain of 2 per cent. This is also its highest level of 52 weeks.
Share can go up to Rs 1350
HSBC Global Research has raised the target price of Voltas Ltd, citing the company's revenue growth over the next few years. The brokerage has maintained a buy rating on the stock. The brokerage firm has increased its target price on Voltas from earlier Rs 1250 to Rs 1350. We maintain our buy rating on the stock as we believe Voltas is one of the best proxies for the underpenetrated room AC category in India, HSBC said in a note.
The company sold 20 lakh units of AC
Voltas' AC sales have crossed 20 lakh units with an increase of 35 percent compared to last year (2023-24). The company gave this information on Sunday. With this, Voltas has become the first company to cross this figure in the domestic market. The Tata group company attributed this performance to sustained demand from cooling manufacturers, a strong offline and online distribution network and innovation-driven new product introductions during the year. Voltas said- The company achieved sales of more than 20 lakh ACs during FY 2023-2024 with a growth of 35 percent, which is the highest ever sales of ACs in a financial year by any brand in India.
According to the statement, Voltas is the first brand in India to achieve this historic achievement in the AC industry. The country's residential AC market is estimated to be 1 crore in the financial year 2023-2024. This figure may increase to 1.15 crore units in the current financial year.