Blue Star hits 52-week high as its arm commences commercial production at Sri City manufacturing facility

07 Feb 2023 Evaluate

Blue Star is currently trading at Rs. 1377.55, up by 11.55 points or 0.85% from its previous closing of Rs. 1366.00 on the BSE.

The scrip opened at Rs. 1361.70 and has touched a high and low of Rs. 1392.95 and Rs. 1357.00 respectively. So far 2813 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1,392.95 on 07-Feb-2023 and a 52 week low of Rs. 860.00 on 04-Jul-2022.

Last one week high and low of the scrip stood at Rs. 1392.95 and Rs. 1238.60 respectively. The current market cap of the company is Rs. 13275.42 crore.

The promoters holding in the company stood at 38.78%, while Institutions and Non-Institutions held 35.60% and 25.62% respectively.

Blue Star’s wholly owned subsidiary -- Blue Star Climatech has set up a state-of-the-art manufacturing facility at Sri City, and the commercial production commenced in January 2023. Blue Star will source some of its new products from here. This new automated and smart factory is equipped with the latest automation techniques and tools for its assembly line and material handling, amongst others, as well as has extensively deployed a slew of initiatives towards IoT and digitization.

Located closer to the Southern ports, the Sri City Plant will enable efficient logistics management for the Company by ensuring speedy movement and containing cost. The company has so far invested approximately Rs 350 crore on this Plant (of the total Rs 550 crore planned in a phased manner over a few years, for this project). The Plant commenced production on January 1, 2023, and will make about 3 lakh units in its first year and will gradually scale up production to 1.2 million units, thereafter.

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.
 

Blue Star Share Price

1275.70 -25.65 (-1.97%)
28-Mar-2024 15:31 View Price Chart
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