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The company has announced an acquisition of a substantial interest in a rice processing facility located in Bareilly, Uttar Pradesh through a joint-venture agreement. The company holds a 66 per cent stake in the JV agreement.

A total of 1,471,143 shares changed hands on the counter till 01:09PM (IST)

Blue Star Ltd., incorporated in the year 1949, is a Mid Cap company (having a market cap of Rs 9631.39 Crore) operating in Consumer Durables sector.

Long-term investors can consider buying the stock now or on dips for a possible target of over Rs 600-650 in the next 12 months which translates into an upside of over 13-22 per cent from Rs 530 recorded on 5 August, suggested experts.

The stock quoted a 52-week high price of Rs 3550.0 and a 52-week low of Rs 899.6.

As of 30-Jun-2022, promoters held 51.37 per cent stake in the company, while FIIs held 17.96 per cent and domestic institutional investors had 19.2 per cent.

“Although the SBI management says that we will recover the bond losses through the year, it is highly unlikely. So overall there are subpar numbers, especially given that the stock is trading near new highs, I The upside, if at all, is very limited and the stock could underperform in near term.”

Suryoday Small Finance Bank Ltd., incorporated in the year 2008, is a banking company (having a market cap of Rs 948.00 Crore).

“In the latest week prices gave a breakout from the double bottom pattern, which is a bullish pattern. The pattern is formed around the level of 59, where we can witness a change in the polarity by the prices,” Vidnyan Sawant, AVP - Technical Research, GEPL Capital, said.

The Nifty Pharma index was trading 0.12 per cent down at 12923.65.