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Business Standard

WJ Towell & Co raises claim in arbitration from Blue Star to Rs 461.74 cr

Air-conditioner maker Blue Star Ltd on Wednesday said Oman's WJ Towell & Co LLC has increased claim to Rs 461.74 crore from it in their ongoing arbitration proceedings at International Chamber of Commerce. In April this year WJ Towell & Co LLC (WJT) had filed arbitration proceedings against Blue Star with International Chamber of Commerce (ICC) claiming OMR 103,18,000 (approximately Rs 223.6 crore) plus an interest of 7 per cent on the total claim amount, the company said in a regulatory filing. "In the statement of claim received by the company on October 1, 2024, the claim amount has been revised to OMR 2,11,80,748 (approximately Rs 461.74 crore) plus interest of 7 per cent on the total claim amount," it added. "The company reiterates that the claims filed by WJT are frivolous, unsubstantiated, premised on fundamental factual misstatements and contrary to the overwhelming facts and evidence," Blue Star said. Based on its assessment, the company said the claims made by WJT ...

Business Standard

India's consumer durables market to be world's 4th largest by 2027: CII

India's consumer durables market is expected to touch a size of Rs 5 lakh crore by FY30 and will become the fourth largest in the world by 2027, industry body CII said on Monday. While the country's products are inching towards global reliability, it is imperative to build a robust quality ecosystem and adopt standardisation in the sector and also export Indian standards globally, said B Thiagarajan, Chairman, CII National Committee on Consumer Electronics and Durables. Speaking at the CII Consumer Electronics & Durables Summit 2024, Thiagarajan, who is also the Chairman and Managing Director, Blue Star Ltd, further said the next decade is expected to create multiple opportunities across the value chain in the sector. "From finished goods as well as development of an indigenous component ecosystem, with the right focus on domestic scale, India's prospects of becoming a global manufacturing powerhouse holds great promise," he asserted. Thiagarajan said, "India is already the ...

The Economic Times

JK Lakshmi extends brand endorsement deal with Rohit Sharma for fifth year

JK Lakshmi Cement has renewed its partnership with cricket star Rohit Sharma for the fifth year. This collaboration underscores their shared values of excellence, strength, and reliability. Rohit Sharma will continue to feature in JKLC’s advertising campaigns, enhancing the brand's connection with consumers and stakeholders nationwide.

The Economic Times

KRN Heat Exchanger and Refrigeration's Rs 342-cr IPO to open on Sep 25

The company has long standing relations with Daikin Airconditioning India, Schneider Electric IT Business India, Kirloskar Chillers and Blue Star among others

The Economic Times

Buy Star Cement, target price Rs 250: Axis Securities

Star Cement Ltd., incorporated in the year 2001, is a Mid Cap company (having a market cap of Rs 8568.62 Crore) operating in Cement sector.

Business Line

Stock to buy today: Blue Star (₹1,887.65): BUY

Blue Star share price can rise to ₹2,050-₹2,100

The Economic Times

Buy Star Cement, target price Rs 257: ICICI Securities

Star Cement Ltd. key Products/Revenue Segments include Cement, Other Operating Revenue, Others and Scrap for the year ending 31-Mar-2023.

Business Line

Gauhati High Court quashes CCI proceedings against cement companies over alleged cartelization

The CCI had earlier accused Star Cement and other cement manufacturers of engaging in collusive behaviour to manipulate cement prices in Assam and other North-East states, which allegedly resulted in higher prices compared to other regions

Business Standard

Demand to remain strong during festivals: Blue Star MD B Thiagarajan

In the April-June quarter, Blue Star's revenue from electro-mechanical projects, commercial air conditioning systems, services and international business grew by 9.5 per cent

Business Line

AC makers' profits soar in April-June amid blistering heat

Companies such as Voltas, Blue Star, Whirlpool of India, Johnson Hitachi, and Havells which owns Llyods brand have reported a high growth trajectory in their top-line and bottom line, led by record sales in the April-June period

Business Standard

Air-conditioner makers log two-fold jump in profits amid blistering heat

Air-conditioner makers have logged a high double-digit growth in revenue and several of them had over two-fold jump in profits during April-June quarter amid increased demand due to the blistering summer. Companies such as Voltas, Blue Star, Whirlpool of India, Johnson Hitachi, and Havells which owns Llyods brand have reported a high growth trajectory in their top-line and bottom line, led by record sales in the April-June period. Tata group firm Voltas, a leading player in the room AC segment, reported over two-fold jump in consolidated net profit at Rs 335 crore and its revenue from operation went up 46.46 per cent to Rs 4,921 crore. Voltas also reported achieving the "milestone" of one million units of AC sales in the first quarter of FY25 and its total income crossed the Rs 5,000 crore-mark during the period. In the first quarter of this financial year, Voltas' revenue from "unitary cooling products for comfort and commercial use" that come under its room AC business vertical w

The Economic Times

AC makers' profits soar in April-June amid blistering heat

During the April-June quarter, air-conditioner manufacturers experienced significant revenue and profit growth due to heightened demand from a severe summer. Key players such as Voltas, Blue Star, Whirlpool of India, Johnson Controls-Hitachi, and Havells (owner of the Lloyd brand) reported substantial increases in both top-line and bottom-line metrics.

Business Line

Star Cement acquires 30% stake in JSW Green Energy Six

Star Cement and its wholly-owned subsidiary Star Cement North East have entered into a group captive power purchase agreement with JSW Green Energy Six

The Economic Times

Indian AC industry likely to double in next 4 years: Blue Star

Blue Star forecasts a significant growth in the air-conditioning industry in the next four years, driven by factors such as low penetration of room ACs and increasing middle-class consumers with high disposable incomes. The company's strategic plans aim to capitalize on emerging opportunities.

The Economic Times

White goods PLI reopens: More time for companies to crack open AC & LED production

The government has reopened the window for white goods manufacturers to apply for the Production-Linked Incentive scheme. Leading companies like Voltas and Blue Star are evaluating new applications. The scheme aims to increase local manufacturing and boost the industry by 2029.