Also, on Wednesday, March 10, Blue Star also informed the stock exchanges that it has launched its new range of room air-conditioners for this summer. It said it portfolio comprises 125 models of room air-conditioners, including a flagship premium range.
Blue Star said it launched a range of flagship models, including ‘super energy-efficient ACs’, ‘heavy duty ACs’, ‘hot and cold ACs’ and ‘ACs with anti-virus technology’.
“India’s cooling demand is at an inflection point, supported by favourable demographics and structural shifts in consumption. Nearly 150 million households in India are expected to be able to afford ACs in the future, indicating significant headroom for penetration,” B Thiagarajan, Blue Star’s managing director, said.
Meanwhile, the temperature in several cities crossed 40 degrees Celsius, including Rajkot and Surendranagar, which recorded the highest temperature in the country at 41 degrees celsius this week.
Earlier this week, it was reported by news agency PTI, that leading players Voltas, Blue Star, LG, among other AC makers announced the price hikes in the 5%-15% range across models, passing on the high costs of key raw material including copper, among others, a weaker rupee, increase in freight costs and new energy-efficiency norms.
Barring shares of Amber Enterprises Ltd., which were down 1.3%, the remaining AC makers LG, PG Electroplast, Voltas and Blue Star, were trading 2.5% to 4.3% up around 11 am on Wednesday.
Also Read: Explained — Why Bajaj Auto shares are declining on Wednesday
