Big earning opportunity in this stock of Tata Group! Buy advice for 31% return in just 1 year, check target

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Tata Group Stock: After the results, equity research firm Nuvama Wealth Management has retained its buy advice on Voltas. The stock is trading at a discount of 36% from its record high.

 Tata Group Stock: Tata Group's air conditioning and engineering service provider company Voltas (Voltas) saw a fall of about 2 percent on Friday. Since the results, the stock has lost more than 3 percent in the last three trading sessions. Voltas on Tuesday (November 1) released its July-September 2022 quarter results. Voltas has a net loss of about 6 crores in the second quarter (Q2FY23). However, the company's revenue has increased by 4.7 percent. After the results, equity research firm Nuvama Wealth Management has retained its buy advice on Voltas. The research firm says that it is a challenging time for the company and further growth is expected to be stable. The stock is down about 32 per cent so far this year.

 Voltas: Shares may jump 31% Equity research firm Nuvama has maintained a buy advice on Voltas's stock. The target price for 12 months is Rs 1,130. The stock closed at Rs 861 on 3 November 2022. In this way, the stock can see a jump of about 31 percent from the current price. The stock is down about 32 per cent so far this year. This stock is available at a discount of about 36% from a record high. On the NSE, Voltas had made a 52-week high (Rs 1,347.65) on 7 April 2022.

 Voltas: What is the opinion of the brokerage

Nuvama Wealth says that the sales of Voltas have been as expected. The growth in the cooling segment has been good. But EBITDA remained weaker than expected. Ebitda margins were under pressure due to higher inventory cost and increased competition. Looking at the CAGR of three years, there has been a good growth of 12 per cent in cooling in the first half. The company management has put some relief in lending to maintain a balance between margin and market share despite the increasing competition. High single digit margin has been kept for the UCP segment (unitary cooling products). The brokerage has cut its FY23/24E earnings estimates by 7%/5%.

 

Disclaimer: The investment advice here is given by the brokerage house. These are not the views of GROWMORE CLUB. Please consult your advisor before investing.


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