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Blue Star trades jubilantly on winning MEP orders of over Rs 500 crore

21 Aug 2017

Blue Star is currently trading at Rs. 744.55, up by 30.15 points or 4.22% from its previous closing of Rs. 714.40 on the BSE.

The scrip opened at Rs. 714.90 and has touched a high and low of Rs. 749.00 and Rs. 714.90 respectively. So far 8533 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 754.00 on 18-Aug-2017 and a 52 week low of Rs. 435.00 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 754.00 and Rs. 679.90 respectively. The current market cap of the company is Rs. 6917.86 crore.

The promoters holding in the company stood at 39.03%, while institutions and non-institutions held 31.32% and 29.65% respectively.

Blue Star has won prestigious Mechanical, Electrical and Plumbing (MEP) orders of over Rs 500 crore for Sands Infinit, SmartCity Kochi; My Home Divija, Hitec City, Hyderabad; Tower A, Ritz-Carlton, Mumbai; and others. These turnkey orders won in the recent months confirm early signs of revival in the MEP industry.

Sands Infrabuild, Kochi awarded a prestigious Rs 145 crore MEP order for Sands Infinit, a 4.2 million square feet IT park project in Kochi Smart City. The company also booked a Rs 160 crore MEP order from My Home Group in Hyderabad, towards the upcoming My Home Divija, a platinum-rated green building project in Hitec City, the IT hub of Hyderabad. Oasis Realty gave a MEP order for Rs 157 crore towards a mixed-use project Tower A, Ritz-Carlton in Mumbai, a 62-storey building.

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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