Blue Star gains on plan to set up its new manufacturing plant for room air-conditioners

Blue Star is currently trading at Rs. 213.05, up by 1.20 points or 0.57% from its previous closing of Rs. 211.85 on the BSE. The scrip opened at Rs. 213.15 and has touched a high and low of Rs. 216.55 and Rs. 210.00 respectively. So far 17,000 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 223.60 on 03-Apr-2014 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. 217.20 and Rs. 203.05 respectively. The current market cap of the company is Rs. 1,906.00 crore. The promoters holding in the company stood at 40.07% while Institutions and Non-Institutions held 25.12% and 34.81% respectively. Blue Star is planning to set up its new manufacturing plant for room air-conditioners and deep freezers at Karnataka and Seemandhra. In this regard, the company will invest Rs 150 crore to set up the plant with an initial capacity of 500,000 units per annum. Moreover, the company is in the process of doubling its market share from the present 7.5% per annum and South India contributes a significant 40% of its total sales annually. At present, the company has five manufacturing facilities at Thane, Bharuch, Dadra, Himachal and Wada. It has a capacity to manufacture 300,000 units of room air-conditioners per annum, which will be increased to around 800,000 units per annum by 2017. 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. The company has six manufacturing facilities located at Thane, Bharuch, Dadra, Himachal and Wada.