Blue Star gains 1 percent in trade today on proposal for issuance of Bonus shares. On May 4th, the company shall hold a board meeting to declare its fourth quarter results. On the same day, the company shall also consider the proposal for issuance of bonus shares to the shareholders of the company.

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In third quarter of financial year 2022-23, Blue Star reported healthy order inflows and robust demand in its B2B segment. Also, the order book jumped 47 percent year on year to Rs 4,862 crore versus Rs 3,301 crore in same quarter of last year.

The March-ended quarter is seasonally strong for the air conditioners manufacturer. Peer Voltas reported numbers in April last week below street estimates, with unitary cooling products division margins being a drag. Voltas also reported a margin erosion due to unchanged consumer pricing owing to heightened competitive intensity with players like Daikin gaining market share.

Also read: Blue Star forays into the railway electrification business, bags order worth Rs 575 crores