Blue Star may touch Rs 392: Mahantesh Sabarad

Mahantesh Sabarad of SBICap Securities told CNBC-TV18, "Over the next two years, FY14-FY17 Blue Star will have an earnings cover of somewhere around 30-31 percent but if you look at its performance in the first half from a market share perspective, they have already inched up their market share to 8.5 percent from 8 percent which was there sometime back and the industry as a whole is growing quite well. In fact, the industry we understand from our channel checks has already surpassed the last year’s full year’s account sales in the nine months period already. So there is a tremendous amount of growth that is happening and Blue Star can do well going forward. We are looking at Rs 392."

At 13:57 hrs Blue Star was quoting at Rs 332.20, up Rs 0.90, or 0.27 percent on the BSE.

Disclosure: Analyst and his firm don’t hold the above stock and they are in the process of applying for the analyst certificate under the new regulations.