Voltas shares up over 5 percent after Citigroup upgrades to 'buy'

Reuters Market Eye - Voltas shares gain over 5 percent after Citi upgrades the stock to "buy" from "sell" and raises its target to 128 rupees from 84 rupees, citing improvement at unitary cooling and engineering agency divisions, dealers say.

"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.

(Reporting by Abhishek Vishnoi)