Voltas shares gained over 5 per cent after Citi upgraded the stock to "buy" from "sell" and raises its target to Rs 128 from Rs 84, citing improvement at unitary cooling and engineering agency divisions, dealers said. (Track stock)
"Better-than-expected performance of unitary cooling (UCP) and engineering agency (EA) over the short term more than makes up for delayed recovery of electro-mechanical projects (EMP)," Citi said in a report on Wednesday.
Copyright Thomson Reuters 2014
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