voltas (Emkay) Worst is behind; Retain BUY

Disappointment yet again - Net profits decline 33% yoy; EPS & UCP continue to trend up; Mixed bag for EMP; Secures orders worth Rs11.4 bn - addresses revenue visibility concerns for FY12E
Date Rating Target Price Recommendation Price Broker house
20 May 2011 buy 200 182 Emkay Report

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