Blue Star launches 100 new air conditioners, stock up

Air-conditioning and commercial refrigeration company Blue Star launched 100 new air conditioners on Tuesday, following which the share price of the company surged by 2.4 per cent on the bourses in Wednesday’s trade.

The air conditioners launched by the company also included 40 highly energy-efficient inverter split air conditioners, designed to deliver extraordinary benefits.

The company had posted a hike of 29.5 per cent in its net profit to Rs. 18.8 crore in the third quarter of fiscal year 2018 as against Rs. 14.5 crore in the same quarter of the previous fiscal year. The stock had recorded a rise of over 25 per cent on the bourses over the past one year.

The company hit an intraday high of Rs. 782 per share and an intraday low of Rs. 763.55 per share on BSE on Wednesday. The stock had touched its 52-week high of Rs. 845 per share on January 8, 2018 and its 52-week low of Rs. 587.20 per share on June 29, 2017 on BSE, respectively.

At 1452 hours IST, the stock was trading at Rs. 766.10 per share, higher by 0.33 per cent on BSE on Wednesday. Meanwhile, S&P BSE Sensex was trading at 33,108.28 level, higher by 0.34 per cent and NSE Nifty50 was trading at 10,147.20 level, higher by 0.23 per cent.