India's Blue Star gains after UBS starts coverage with 'buy'

Blue Star

09/10/2026 06:15

** Room air-conditioning and commercial refrigeration products maker Blue Star's shares BLUS.NS rise as much as 2.8% to 1,561.5 rupees apiece
** Uptick after UBS starts coverage with "buy" and a price target of 2,000 rupees, implying a potential upside of 31.6% over the last close
** UBS' PT is the second highest among 26 analysts tracking BLUS, with an average "hold" rating and median PT of 1,675 rupees
** Brokerage sees structural growth prospects for BLUS across the mechanical, electrical and plumbing (MEP) market and rising investments in data centres
** BLUS is also likely to benefit from a growing room AC franchise, in which it commanded 14.2% market share in FY2026, says UBS
** Says valuations of 45x 12-month forward price-to-earnings is justified by the improving earnings outlook
** BLUS shares down 10.5% in 2026 so far, lagging the 3% drop in Nifty Midcap 100 index .NIFMDCP100, exchange data shows


 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))