The summers have just started but the heat is already quite unbearable in many parts of the country. As a result, the demand for air conditioners is on the rise. Even stocks of companies manufacturing air conditioners are in demand. But would you rate them as cool options to buy this Summer? Here is how these stocks fared in March and FY24.
Shares of Sharp India gained the most in March compared to the other six companies in the same field. Its stock was up 9%, followed by Amber Enterprises at 2%, and Voltas at 1.7% in the same period.
The stock of Voltas was stuck in the upper circuit on April 08 after it reported highest-ever sales in FY24. The company sold over 2 million units of air conditioners in the aforementioned period. However, shares of Voltas wiped out more than 35% in FY23. Similarly, Sharp India, Hitachi, and Amber Enterprises have fallen 14.6%, 46%, and 50% in FY23.
Market rally leads to higher regulatory fees for stock exchanges Meet the daughter of Hyderabad’s richest man, who helps run her family’s Rs 8,049 crore company and recently purchased two lavish properties for Rs 80 crore Muhammad Yunus: Leading Bangladesh’s transition amidst crisis PFC gains over 5%; brokerages hike target price by as much as 28%
In FY24, the air conditioner stocks mostly rose compared to FY23. EPACK Durable is a newly listed scrip and has given a negative return of around 8% since its listing – January, 19. Johnson Controls Hitachi – the company famous by the name Hitachi – also followed the path of EPACK Durables and wiped over 6% of investors’ wealth in FY24. However, it is an old company, unlike EPACK.
Amber Enterprises doubled investors’ money in FY24 – gave a return of 100.5% – the highest among its peers in FY24 and FY23 as well. Blue Star has risen almost 85% in the same period. Shares of Sharp India saw an increase of over 45% in the scrip, while Voltas’ stock has risen almost 35% in FY24.
The stock of Voltas was stuck in the upper circuit on April 08 after it reported highest-ever sales in FY24. The company sold over 2 million units of air conditioners in the aforementioned period. However, shares of Voltas wiped out more than 35% in FY23. Similarly, Sharp India, Hitachi, and Amber Enterprises have fallen 14.6%, 46%, and 50% in FY23.