Summer surge: Blue Star, Voltas, other AC stocks rise up to 7% on higher sales hope after IMD's heatwave warning

Blue Star

Shares of air conditioner manufacturers are higher on March 3, in anticipation of stronger sales, after the Indian Meteorological Department (IMD) said it is expecting above-normal temperatures and heatwave days across India from March onwards, following an unusually warm February.

The shares of Blue Star were trading nearly 7 percent higher at Rs 2,054 apiece, while those of Voltas were up about 3 percent to trade at Rs 1,360 apiece. Johnson Controls, makers of Hitachi air conditioners in India, were trading over 2 percent higher at Rs 1,660 apiece.

The meteorological department had on February 28 said that the maximum and minimum temperatures are likely to remain above the normal benchmarks during March, except for certain parts, including northwest India and peninsular India.

India is also likely to see above-normal heatwave days between March and May, the IMD said. This, however, excludes the northeast India, extreme north India, southwestern and southern parts of peninsular India.

IMD is projecting rainfall to stay in the normal range over the entire country during March, however, above-normal rainfall is expected over peninsular India and neighbouring regions of south of central India, and normal to below-normal rainfall is expected over the rest of India.

"Heatwaves pose significant risks to vulnerable populations, including the elderly, children, and those with pre-existing health conditions, leading to heatstroke, dehydration, and strain on infrastructure...Citizens are strongly encouraged to utilize these resources to proactively take personal precautions, such as staying hydrated, avoiding peak sun hours, and seeking cool environments, thereby minimizing the adverse health impacts of heatwaves," IMD said.

Following the Q3FY25 GDP numbers, the Chief Economic Advisor V Anantha Nageswaran too was asked about the impact of an unusually warm February on the economy, to which he replied saying the government is taking a number of measures to adapt to the challenges of climate change and global warming.