Buy Blue Star, target price Rs 930: Yes Securities

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Buy Blue Star, target price Rs 930:  Yes Securities


Yes Securities has buy call on with a target price of Rs 930. The current market price of Blue Star Ltd. is Rs 874.25.

Blue Star Ltd., incorporated in the year 1949, is a Mid Cap company (having a market cap of Rs 8359.08 Crore) operating in Consumer Durables sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1131.98 Crore, up 24.67 % from last quarter Total Income of Rs 907.98 Crore and down -8.86 % from last year same quarter Total Income of Rs 1242.00 Crore. Company reported net profit after tax of Rs 35.86 Crore in latest quarter.

Investment Rationale
Sustenance above important averages and support of Rs 830 could lift the stock to revisit levels of Rs 930.


Promoter/FII Holdings
Promoters held 38.8 per cent stake in the company as of Sept 30, 2020, while FIIs held 9 per cent, DIIs 23.4 per cent and public and others 28.9 per cent.



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