Blue Star shares climb 2% after bagging MMRC contract

NEW DELHI: Shares of Blue Star climbed 2 per cent and extended their gains into the second consecutive session after the company bagged a contract worth Rs 253 crore from the Mumbai Metro Rail Corporation (MMRC).

Blue Star Wednesday said it has bagged a contract from MMRC for the tunnel ventilation system and environmental control system works for the section BKC to Mumbai Central on its Colaba-Bandra-SEEPZ, metro-3 corridor.

The scope of work includes design, manufacture, supply, installation, testing and commissioning along with other associated work, an official statement said.


A week ago, media reports suggested that the airconditioner-maker, which forayed into the water purifier business in 2016, has set a target revenue of Rs 120 crore from it during this financial year.

The company reported a 19 per cent year-on-year (YoY) growth in consolidated revenue for the quarter ended March 31, 2019.

Shares of Blue Star closed 1.40 per cent up at Rs 787.55 on BSE.