Consumer electronics shares gain as import of ACs with refrigerants banned

IFB Industries, Blue Star, Johnson Controls-Hitachi Air Conditioning India, Voltas and Whirpool of India were up in the range of 2 per cent to 6 per cent on the BSE

Shares of consumer electronics companies rallied up to 15 per cent intra-day at the bourses on Friday after the government banned import of air conditioners with refrigerants.

Amber Enterprises India surged 15 per cent to hit a 52-week high of Rs 2,300 on the BSE. At 10:38 am, the stock was trading 5 per cent higher at Rs 2,102, as compared to 0.44 per cent rise in the S&P BSE Sensex. The company is a market leader in Indian Room Air Conditioner (RAC) industry and air conditioning industry for mobile application such as railways, metros, buses etc.

IFB