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Shares of air-conditioner makers rally up to 7% amid heat wave alert

Analyst at Jefferies believes FY24E should see both Air-Conditioner (AC) and Engineering segments of Voltas being in a sweet spot.

Earth temperature, ACs, high temeperature, summers, hotter summers, Voltas, Blue Star, Johnson Controls-Hitachi, Lloyds, Symphony, Crompton Greaves Consumer Electricals, HSBC Global Research, heat in June, Blue Star and Hitachi, Crompton Greaves Cons
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SI Reporter Mumbai
Shares of household appliances companies mainly engaged in air-conditioner (AC) business were in focus on expectations of improvement in volume as India Meteorological Department (IMD) recently issued the first heat wave alert of 2023.

Johnson Controls-Hitachi Air Conditioning India surged 7 per cent to Rs 1,286, IFB Industries rallied 5 per cent, Voltas and Blue Star gained 4 per cent each and Symphony was up 3 per cent on the BSE in Wednesday’s intra-day trade. In comparison, the S&P BSE Sensex was down 0.82 per cent at 60,174 at 10:22 AM.

The fast moving electric goods (FMEG) companies

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First Published: Feb 22 2023 | 10:49 AM IST

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