Indian air cooler makers jump on prospects of more heat waves

Blue Star

02/04/2024 08:42

** Shares of air cooling companies Blue Star  BLUS.NS  and
Voltas  VOLT.NS  up 3%-4%; Symphony  SYMP.NS  surges ~11%
    ** Indian weather dept forecasts more heat wave than normal
from April to June
    ** Symphony sees best intra-day percentage gain since March
2021
    ** Voltas jumps to highest price since May 2023
    ** ICIC Securities says lower trade inventory and stable
pricing augurs well for higher volume growth in FY25
    ** BLUS up ~39% YTD, VOLT up ~22% and SYMP up ~10%

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