Blue Star up 5% on winning over Rs 500 crore orders

The company said it has won MEP orders of over Rs 500 crore in India.

Blue Star was up 5% to Rs 751 on BSE in an otherwise range-bound market after the company announced that it has won mechanical, electrical and plumbing (MEP) orders of over Rs 500 crore in India.

Blue Star booked Rs 160 crore MEP order from My Home Group in Hyderabad, towards the upcoming My Home Divija, a platinum-rated green building project in Hitec City, the IT hub of Hyderabad, the company said in a press release.

Oasis Realty gave a MEP order for Rs 157 crore towards a mixed-use project in Mumbai, while Sands Infrabuild, Kochi awarded Rs 145 crore MEP order for Sands Infinit, a 4.2 million sq ft IT park project in Kochi Smart City, it added.

Blue Star said, these turnkey orders won in the recent months confirm early signs of revival in the MEP industry.

“Urbanisation, growth in the construction industry, and smart cities, along with the increasing penetration of green buildings are driving the growth of MEP services in India,” said Vir S Advani, Managing Director, Blue Star.

At 12:41 pm; the stock was up 4.4% at Rs 746, as compared to 0.18% decline in S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 152,520 shares changed hands on BSE and NSE so far.