May 3, 2019 / 9:14 AM / 3 months ago

BUZZ-Indian AC maker Blue Star rises on strong March-qtr results

** Blue Star Ltd’s shares are up nearly 4 pct to 709.55 rupees, their highest in a month

** The company's March-quarter profit more than doubled to 775.5 mln rupees ($11.20 mln) (bit.ly/2DHgM1K)

** “Prospects of the electro-mechanical projects and packaged air conditioning systems segment are good with a healthy order book,” said Managing Director, B Thiagarajan, in an exchange filing.

** More than a million shares traded, way over the 30-day average of 60,081 shares

** Stock is up for fifth session, trading above 20-day exponential moving average for the third straight session

** Blue Star’s estimated PE of 43.57 exceeds sector average of 17.38 ($1 = 69.2425 Indian rupees)

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