/images/ppid_59c68470-image-177555503478185724.webp)
What is the story about?
AC stocks Blue Star, Voltas, PG Electroplast and Symphony are trading up to 3% lower on Tuesday, April 7.
The stocks have largely been trading with losses in the past week on the back of unseasonal rains in many parts of the country threatening to ruin the peak summer season for AC manufacturers for the second consecutive year.
Shares of Blue Star have declined in five out of the last six trading sessions, during which the stock has corrected by 12%. Shares of Voltas too have dropped in five out of the last six sessions, and have corrected 11% during this period.
PG Electroplast shares have declined 15% in the last six sessions, of which the stock has ended lower in five of them. Blue Star even fell to a 52-week low last week.
Blue Star MD B Thiagarajan told CNBC-TV18 that in the four decades of his career, he has not come across two seasons failing consecutively. He added that the Iran war has squeezed demand further.
While AC sales are yet to pick up, the companies have increased their prices at least twice ever since the beginning of this year.
On Tuesday, the India Meteorological Department (IMD), forecast a spell of rain, thunderstorms and gusty winds affecting large parts of northern and eastern parts of India this week as two back-to-back western disturbances influence weather conditions across the region.
The IMD in its weather bulletin said the disturbances are set to bring peak weather activity on April 7 and 8 across northwest India, triggering rainfall, hailstorms and thunderstorms in several states.
While unseasonal rainfall lashes the onset of summer, AC manufacturers may be looking at a drier monsoon in the second quarter.
Private weather forecast agency Skymet Weather on Tuesday predicted a below-normal southwest monsoon this year in India , with rainfall estimated to be around 94% of the long-period average.
It said the seasonal rainfall during the June-September period is estimated to be around 817 mm, compared to the LPA of 868.6 mm. It said rainfall in the range of 90-95% of LPA is categorized as "below normal".
The weather agency also sees a 40% probability of a below-normal monsoon and a 30% chance of drought-like conditions. Meanwhile, the likelihood of normal rainfall is 20%. It pegged the probability of above-normal rainfall at 10%, with no chance of excess rainfall during the season.
Shares of Blue Star, Voltas, PG Electroplast and Symphony were trading 0.6% to 3% lower at 2.20 pm on Tuesday. The stocks have declined up to 0.8% to 11.6% in the past week and 12% to 24% in 2026, so far.
Also Read:Tata Steel Q4 Update: India crude steel production rise 15%, volumes surge
The stocks have largely been trading with losses in the past week on the back of unseasonal rains in many parts of the country threatening to ruin the peak summer season for AC manufacturers for the second consecutive year.
Shares of Blue Star have declined in five out of the last six trading sessions, during which the stock has corrected by 12%. Shares of Voltas too have dropped in five out of the last six sessions, and have corrected 11% during this period.
PG Electroplast shares have declined 15% in the last six sessions, of which the stock has ended lower in five of them. Blue Star even fell to a 52-week low last week.
Blue Star MD B Thiagarajan told CNBC-TV18 that in the four decades of his career, he has not come across two seasons failing consecutively. He added that the Iran war has squeezed demand further.
While AC sales are yet to pick up, the companies have increased their prices at least twice ever since the beginning of this year.
On Tuesday, the India Meteorological Department (IMD), forecast a spell of rain, thunderstorms and gusty winds affecting large parts of northern and eastern parts of India this week as two back-to-back western disturbances influence weather conditions across the region.
The IMD in its weather bulletin said the disturbances are set to bring peak weather activity on April 7 and 8 across northwest India, triggering rainfall, hailstorms and thunderstorms in several states.
While unseasonal rainfall lashes the onset of summer, AC manufacturers may be looking at a drier monsoon in the second quarter.
Private weather forecast agency Skymet Weather on Tuesday predicted a below-normal southwest monsoon this year in India , with rainfall estimated to be around 94% of the long-period average.
It said the seasonal rainfall during the June-September period is estimated to be around 817 mm, compared to the LPA of 868.6 mm. It said rainfall in the range of 90-95% of LPA is categorized as "below normal".
The weather agency also sees a 40% probability of a below-normal monsoon and a 30% chance of drought-like conditions. Meanwhile, the likelihood of normal rainfall is 20%. It pegged the probability of above-normal rainfall at 10%, with no chance of excess rainfall during the season.
Shares of Blue Star, Voltas, PG Electroplast and Symphony were trading 0.6% to 3% lower at 2.20 pm on Tuesday. The stocks have declined up to 0.8% to 11.6% in the past week and 12% to 24% in 2026, so far.
Also Read:Tata Steel Q4 Update: India crude steel production rise 15%, volumes surge
/images/ppid_a911dc6a-image-177576703352746052.webp)
/images/ppid_a911dc6a-image-1775766232380187.webp)