Blue Star stocks: Buy Blue Star, target price Rs 1160: Axis Securities

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Axis Securities has buy call on Blue Star with a target price of Rs 1160. The current market price of . is Rs 1047.75. Time period given by analyst is Intra Day when Ltd. price can reach defined target.

Blue Star Ltd., incorporated in the year 1949, is a Mid Cap company (having a market cap of Rs 10094.66 Crore) operating in Consumer Durables sector.

Blue Star Ltd. key Products/Revenue Segments include Air Conditioners, Sale of services, Other Operating Revenue for the year ending 31-Mar-2022.

Financials

For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1980.83 Crore, down -12.11 % from last quarter Total Income of Rs 2253.85 Crore and up 86.87 % from last year same quarter Total Income of Rs 1059.99 Crore. Company reported net profit after tax of Rs 74.82 Crore in latest quarter.

Investment Rationale
“Inverse Head & Shoulder” at 1037 , recaptured and sustaining above 20,50, 100 and 200 Day SMAs

Promoter/FII Holdings
Promoters held 38.78 per cent stake in the company as of 30-Jun-2022, while FIIs owned 12.25 per cent, DIIs 22.06 per cent.

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