India's Blue Star rises on winning railway orders worth $70 mln

Blue Star

21/03/2023 05:06

** Shares of Blue Star Ltd  BLUS.NS  rise as much as 2.6% to
1,484 rupees
    ** Air conditioner maker forays into railway electrification
space by winning four orders worth 5.75 billion rupees ($69.58
million) from West Central Railway, Central Organization for
Railway Electrification, and Metro Railway, Kolkata
    ** Analysts at Antique Stock Broking maintain "buy" rating
on co at PT 1,610 rupees
    ** Blue Star management aims to increase market share from
current 13.5% to 15% by improving product affordability, brand
connect and distribution model - Antique
    ** More than 75,000 shares traded by 10.24 a.m. IST vs
30-day avg of 93,083 shares
    ** Fifteen of 19 brokerages rate stock as "buy" or higher,
and four "hold;" median PT is 1,415 rupees - Refinitiv data
    ** Stock up 20.6% this year as of last close


($1 = 82.6340 Indian rupees)

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))