Amber Enterprises soars 10%, hits new high of Rs 3,000 on growth prospects

The ban on imports with refrigerant filled ACs has opened up new opportunities for the domestic manufacturers and for Amber

Shares of Amber Enterprises India hit a new high of Rs 3,000 after it rallied 10 per cent on the BSE in Tuesday's intra-day on the expectation of a strong bounce-back in room air conditioner (RAC) volumes during the current quarter (Q4FY21). The stock of the consumer durable company surpassed its previous high of Rs 2,793 touched on February 3, 2021.

In the October-December quarter (Q3FY21), Amber Enterprises had achieved pre-Covid sales level on the back of renewed consumer sentiments which led to demand acceleration. The management believes there is a structural shift in consumer ecosystem as consumers have identified the