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Blue Star sizzles after launching new models

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advanced 1.25% to Rs 794 at 13:48 IST on after the company announced the launch of 40 new models of highly split air conditioners.

The announcement was made during market hours today, 9 March 2018.

Meanwhile, the Sensex was up 110.39 points or 0.33% at 33,451.03. The Mid-Cap index was up 7.59 points or 0.05% at 16,051.14.

On the BSE, 3,091 shares were traded on the counter so far as against the average daily volumes of 21,000 shares in the past two weeks. The stock had hit a high of Rs 804.15 and a low of Rs 782.10 so far during the day. The stock had hit a record high of Rs 845 on 8 January 2018 and a 52-week low of Rs 541.25 on 10 March 2017.

The mid-cap company has equity capital of Rs 19.20 crore. Face value per share is Rs 2.

announced the launch of 40 new models of highly energy-efficient 3-star and 5-star inverter split air conditioners, designed to deliver extraordinary benefits. This range promises up to 30% extra cooling power resulting in powerful cooling, faster temperature pull-down and extra savings; extra comfort with precise temperature setting in steps of 0.1C and 0.5C; extra quiet performance with a 'soundproof' acoustic jacket for the compressor; and for healthier air, said.

Blue Star forayed into the residential segment in 2011. Currently, it enjoys a market share of 11.5%.

B Thiagarajan, Joint Managing Director, Blue Star said that the room air conditioners market in grew by 10% in the period between January and December 2017, whereas Blue Star registered a growth of around 15%. There are strong indications of a severe summer and the market is expected to further grow driven by a rise in demand, he said.

On a consolidated basis, Blue Star's net profit rose 29.52% to Rs 18.78 crore on 6.92% growth in net sales to Rs 981.30 crore in Q3 December 2017 over Q3 December 2016.

Blue Star 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: Fri, March 09 2018. 14:08 IST