India, Sept. 28 -- Summer in India decides a lot for anyone selling air conditioners. A hot season fills the shops, a weak one leaves dealers stuck with stock, and raw material prices and the rupee keep changing costs behind the scenes. The real test comes after the season ends, when brokerages have to say what all of it is worth. That's where the stock stands right now, and two names have just spoken.

Voltas shares closed at Rs 1,127.4, up Rs 10.4 or 0.93% from the previous close of Rs 1,117. The stock has a market cap of Rs 37,303 crore and trades at a P/E of 84.37 on consolidated numbers.

Two Buy Calls, One Target Cut

Jefferies has maintained its Buy rating on Voltas, but it cut the target price to Rs 1,495 from Rs 1,580. The reaso...