Johnson Controls-Hitachi, Voltas, Blue Star, Whirlpool recently recorded new 52-week highs but still haven't lost their steam
With sales of cooling products turning out dismal this summer due to unseasonal rains, the stocks of related companies are now off their March highs. Shares of fan and air conditioner makers such as Voltas, Symphony, Orient Electric, Johnson Controls-Hitachi Air Conditioning and Crompton Greaves are down 5-23 per cent since March when the summer season saw a firm onset. In comparison, the BSE Sensex index is up 10 per cent.
IMD expects day temperatures to remain above-normal in select regions across the country between March and May 2021.
Higher prices are burdening household budgets and threatening the margins of leading manufacturers.
Given the school break, this is the peak travel season and companies catering to the 'friends and family' segment are expected to gain.
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