Jefferies has maintained a “Buy” rating on Blue Star, increasing the target price from ₹1,815 to ₹2,040, suggesting a potential upside of 15% from the current market price of ₹1,770. The brokerage highlights that the company’s growth is primarily driven by the Electro-Mechanical Projects (EMP) segment, while Room Air Conditioner (RAC) volumes grew robustly at 27% year-on-year. The RAC segment continues to display strong growth, though the commercial refrigeration segment faced some interim challenges.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult a financial advisor before making any investment decisions.
