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Blue Star surges on inking pact with OMASCO

13 Feb 2017

Blue Star is currently trading at Rs. 573.25, up by 21.20 points or 3.84% from its previous closing of Rs. 552.05 on the BSE.

The scrip opened at Rs. 558.90 and has touched a high and low of Rs. 580.00 and Rs. 558.90 respectively.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 581.00 on 17-Oct-2016 and a 52 week low of Rs. 307.55 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 580.00 and Rs. 534.50 respectively. The current market cap of the company is Rs. 5,477.63 crore.

The promoters holding in the company stood at 39.09%, while Institutions and Non-Institutions held 29.99% and 30.92% respectively.

Blue Star has signed an agreement with Oman Marketing and Services Company LLC (OMASCO), for distribution of its Applied Systems Products across Oman. The Applied Systems range of products includes 100% Inverter VRF (Variable Refrigerant Flow) IV Plus Systems, Air Handling Units (AHUs), Fan Coil Units (FCUs) and HVAC Chillers.

Besides the Applied Systems product range, Omasco will also be the distributor for Blue Star's Unitary Products in Oman through its numerous retail channel partners. The unitary products array includes Room Air Conditioners, Deep Freezers, and Water Tank Chillers.

Oman is a very important market, for Blue Star’s expansion in international geographies. The growth in the Oman HVAC market can be attributed to the burgeoning public and private infrastructures, expansion of the transportation segment, booming retail and hospitality sectors, as well as the rising business opportunities in the country as a whole.

Blue Star is India’s leading central air-conditioning and commercial refrigeration company fulfilling the cooling requirements and providing end-to-end solutions as a manufacturer, contractor and after-sales service provider to corporate, commercial, institutional and residential customers.

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