Nomura warns about air conditioning sector in India

Nomura says it has come away "with extremely negative takeaways" for the Indian heating, ventilation and air conditioning (HVAC) market after meeting with Blue Star's executive in charge of the segment.

December 21, 2012 / 18:18 IST

Nomura says it has come away "with extremely negative takeaways" for the Indian heating, ventilation and air conditioning (HVAC) market after meeting with Blue Star's executive in charge of the segment.

Nomura says Blue Star sees the HVAC market suffering from declining orders and intensifying competition, according to a note dated on Thursday.

As such, margins are under pressure, while customers are delaying payments, Nomura says citing Blue Star's comments.

Nomura expects the negative trends in HVAC to also impact Voltas , noting the air conditioner maker has recently been aggressive in the domestic market following a slowdown in new order inflow in the overseas markets.

Blue Star shares fall 1 percent, while Voltas shares are down 2.1 percent.

first published: Dec 21, 2012 10:56 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347