India's Blue Star jumps on promoter's R&D grant offer

Blue Star

24/02/2023 07:40

** Shares of Blue Star  BLUS.NS  rise as much as 2.85% to
1,462.95 rupees
    ** Promoter and Chairman Emeritus Ashok Advani offers a
grant of 1 bln rupees to co
    ** The funding will be staggered over five years and will be
used to boost co's research and development activities
    ** Trading volume is 157,000 shares as of 1:01 p.m. IST,
nearly 2x the 30-day avg - Refinitiv data
    ** Of the 19 analysts tracking stock, 15 maintain "buy" and
four suggest "hold"; median TP is 1,415 rupees, up from 1,360
rupees a month ago - Refinitiv data
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))