Select stocks of consumer durable companies, especially, makers of summer appliances such as air conditioners (ACs), air coolers, refrigerators, fans among others have been on a swift rise recently in anticipation of strong demand for cooling products this summer.
On a year-to-date basis, Voltas, Havells India, Symphony, Blue Star and PG Electroplast have gained 6-27 per cent versus a 2 per cent and 3 per cent decline in the BSE Sensex and BSE Consumer Durables indices.
With the mercury currently on the boil, analysts remain bullish on the sector as they see more upside in the shares over the near-term and advise investors to pick stocks selectively.
ALSO READ: Hotter summer likely in 2023; above normal t
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
Subscribe To Insights
Key stories on business-standard.com are available to premium subscribers only.Already a BS Premium subscriber? Log in NOW
What you get on Business Standard Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Ahead of searing summer, analysts bet on consumer appliance stocks
As mercury soars, Centre issues guidelines for workers during hot summers
IMD disagrees with Skymet, says India will have a normal monsoon this year
El Nino likely to keep monsoon rains below normal, says Skymet
IMD's heatwave warning: Here're 6 common health problems to look out for
Emkay Global zooms 20% on Sebi's in-principle nod to enter MF business
ITC m-cap hits Rs 5-trn for the first time; stock surges 21% so far in CY23
Natural gas faces hurdle at Rs 195; can rally up to 33% thereafter
Stocks to Watch: Tata Motors, HCL Tech, Ultratech, NBCC, Mastek, Tata Comm
Sensex, Nifty snap 3-day losing streak, end marginally up; Infy, HUL slip