Blue Star’s stock surged by 3% in early trading after Jefferies maintained a Buy rating and revised target price of ₹2,040, up from ₹1,815.
Jefferies attributes Blue Star’s growth to its strong Electro-Mechanical Projects (EMP) segment and impressive 27% year-on-year growth in Room Air Conditioner (RAC) volumes. Despite minor setbacks in the commercial refrigeration segment, Blue Star’s RAC segment continues to drive robust expansion, making it an attractive buy for investors.
As of 10:35 am, Blue Star shares were trading 3.43% higher at Rs 1,839.55 on the NSE.
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