Sustained market leadership in room AC segment and foray into other consumer durables segments continue to augur well for Voltas. At CMP, the stock trades at 30.6x of FY20E and 26.5x of FY21 earnings. Reducing our earnings estimate by 6%/3% for FY20E/FY21E, we reiterate our BUY recommendation on the stock with a revised Target Price of Rs663 (from Rs681...