Reduce Blue Star; target of Rs 730: Dolat Capital Market
Dolat Capital Market recommended Reduce rating on Blue Star with a target price of Rs 730 in its research report dated March 18, 2021.
March 19, 2021 / 12:14 PM IST
Dolat Capital Market's research report on Blue Star
The AC industry is witnessing a strong offtake for the current summer as per our interaction with Blue Star. The company has taken a 5-8% price hike so far but expects the next round of price hike to likely happen in April. It expects the combination of price hike and scale effect to help it maintain margins.
Company has already launched mass market products and aims to target Tier 3/4 cities and after establishing in South India, continues its efforts to improve share in North India. It opines that PLI can accelerate indigenization of AC components in India.
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