Sell Blue Star, target price Rs 537: Emkay Global

Emkay Global has given a sell rating to Blue Star with a target price of Rs 537. The share price moved up by 1.87 per cent from its previous close of Rs 682.25. The stock’s last traded price is Rs 695.

Blue Star Ltd., incorporated in the year 1949, is a Mid Cap company (having a market cap of Rs 6683.70 Crore) operating in Consumer Durables sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 902.12 Crore, up 44.10 % from last quarter Sales of Rs 626.02 Crore and down -27.80 % from last year same quarter Sales of Rs 1249.47 Crore Company reported net profit after tax of Rs 15.04 Crore in latest quarter.

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.