Voltas shares jumped nearly 5% in Wednesday’s early session after Morgan Stanley upgraded the stock to ‘overweight’ from ‘equal-weight.’
The global brokerage firm expects Voltas to deliver a 21% compound annual growth rate (CAGR) in earnings between FY25 and FY27. This optimistic outlook is attributed to anticipated strong volume growth in the unitary cooling products (UCP) business, along with moderate margin expansion.
Morgan Stanley also noted that the worst might be behind for Voltas’ project business, which has struggled in the past but is expected to recover moving forward.
As of 10:15 AM, Voltas shares were trading 4.83% higher at ₹916.45 on the NSE.
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