Nirav Vasa News Today

Shares of Blue Star have emerged from a consolidation on the weekly time frame that could likely open a further 11% upside in the stock. The indicators on technical charts exhibit a bullish trend which are supported by strong volumes, experts tell ETMarkets as they recommend investors to hold this stock and not panic on corrections.

Analysts point out that the company’s substantial portion of revenue comes from a single customer, Signify innovation India Limited, erstwhile Philips India – 70 percent revenue in 9MFY23, which is a concentration risk. Any slowdown in the business of Signify will spell an omen for IKIO.