India's Blue Star a better near-term bet than Voltas -Nirmal Bang

Blue Star

01/01/2024 09:55

** Nirmal Bang says Indian air-conditioner maker Blue Star
 BLUS.NS  is a better bet than Voltas  VOLT.NS   in short- to
medium term
    ** Brokerage says it likes BLUS chasing profitability, FCF
and maintaining leadership in commercial air conditioner space
    ** Meanwhile, it says, Voltas's losses in electro mechanical
product and services continues, with "not so encouraging
feedback" for Volt Beko products
    ** This, it adds, is a risk in near term for Voltas and
could continue to suppress overall margins
    ** Brokerage keeps "buy" on BLUS and raises TP to 1,100
rupees; stays "accumulate" on Volats with TP of 985 rupees
    ** BLUS flat at 947.20 rupees, VOLT also flat at 977.95
rupees
    ** BLUS shares rose 58% in 2023 vs 22.3% gains in VOLT


 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))