Monday, April 1, 2019

Voltas gains 2% as HSBC expects strong earnings growth in FY20

Voltas shares gained 2 percent on Wednesday morning after the global investment firm HSBC said it sees strong earnings growth in next financial year.

The stock was quoting at Rs 624.00, up Rs 10.80, or 1.76 percent on the BSE, at 09:48 hours IST.

While maintaining buy rating on the stock with a price target of Rs 640, HSBC said under-penetration and a benign base should drive 10 percent industry growth in FY20 and there has been no price discounting due to the delayed summer.

The research house expects earnings over FY19-21 to grow 22 percent CAGR and expects a recovery in volume growth in FY20.

"We see revenue growth outstripping volume growth & PAT outgrowing revenue growth," HSBC said.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions. First Published on Mar 27, 2019 10:12 am

No comments:

Post a Comment

.