India's Blue Star expects 25% jump in AC revenue from summer demand boost [Reuters]
DAIKIN INDS LTD UNSP/ADR (DKILY)
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Source: Reuters
"The indications are ... the summer season will be good (for the AC segment)," Blue Star Managing Director B. Thiagarajan told Reuters on Monday. A brighter economy is also expected to boost AC sales, he added. The optimism comes after Blue Star's AC sales came in below projections last summer due to a cooler-than-expected season, prompting it to call the period "a disappointing one." Blue Star is launching new models and ramping up ad spend to better compete with rivals such as Tata Group-owned Voltas (VOLT.NS) , opens new tab and Japan's Daikin Industries (6367.T) , opens new tab in a crowded AC market. The company is doubling its spending on ads to 400 million rupees ($4.8 million), Thiagarajan said, as it jostles for advertising slots on popular events such as the Indian Premier League cricket tournament in the run-up to the country's general elections this year. Although inflation is taking a toll on the consumer goods sector, especially in rural areas, AC makers are lik
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