Monday, 16 December 2013

Blue Star surges on plan of entering into various countries with proper distribution channel

Blue Star is currently trading at Rs. 160.25, up by 2.50 points or 1.58% from its previous closing of Rs. 157.75 on the BSE.

The scrip opened at Rs. 160.00 and has touched a high and low of Rs. 165.25 and Rs. 159.00 respectively. So far 6915 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 195.00 on 17-Dec-2012 and a 52 week low of Rs. 130.15 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 170.00 and Rs. 156.65 respectively. The current market cap of the company is Rs. 1456.96 crore.

The promoters holding in the company stood at 40.07% while Institutions and Non-Institutions held 25.47% and 34.47% respectively.

In a bid to expand exports business, Blue Star is planning to foray into various countries with proper distribution channel. These countries include West Asia and African countries including Sri Lanka, Maldives, Iran, Saudi Arabia and Egypt. The company is expecting to increase exports turn over to Rs 200-250 crore from Rs 90 crore last year by 2015-16.

Meanwhile, the company is all set to launch its products in Sri Lanka this week, through a proper distribution channel. While the company had exports to the country based on the random orders received, there was no proper presence set up in Sri Lanka.

Blue Star is India’s leading central air-conditioning and commercial refrigeration company fulfilling the cooling requirements and providing end-to-end solutions as a manufacturer, contractor and after-sales service provider to corporate, commercial, institutional and residential customers.

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