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Blue Star moves north on brokerage boost

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advanced 1.57% to Rs 655 at 12:47 on on reports a domestic brokerage has maintained accumulate rating on the stock.

Meanwhile, the S&P Sensex was down 50.46 points or 0.16% at 31,105.45. The S&P Mid-Cap index rose 10.41 points or 0.07% at 14,809.82.

On the BSE, 1,599 shares were traded on the counter so far as against the average daily volumes of 14,000 shares in the past two weeks. The stock had hit a high of Rs 662.85 and a low of Rs 644.05 so far during the day. The stock had hit a record high of Rs 723.95 on 5 April 2017 and a 52-week low of Rs 407.65 on 24 June 2016.

The stock had underperformed the market over the past one month till 14 June 2017, sliding 3.35% compared with the Sensex's 3.21% rise. The stock had, however, outperformed the market over the past one quarter, gaining 17.34% as against the Sensex's 5.82% rise. The scrip had also outperformed the market over the past one year, surging 50.89% as against the Sensex's 18.03% rise.

The mid-cap company has equity capital of Rs 19.22 crore. Face value per share is Rs 2.

Reports suggested that the domestic broker is of the view that the room AC sector offers potential for an extended period of high growth due to rising disposable incomes and under-penetration of product within the consumer durable basket.

On consolidated basis, Blue Star's net profit rose 147.6% to Rs 37.17 crore on 18.6% growth in net sales to Rs 1371.79 crore in Q4 March 2017 over Q4 March 2016.

is India's leading central airconditioning company. The company fulfils the air-conditioning needs of a large number of corporate, commercial and residential customers and has also established leadership in the field of commercial refrigeration.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 12:48 IST