Shares of India’s air conditioner (AC) companies rose by up to 6% on Wednesday, 11 March, led by Blue Star and PG Electroplast, following reports of above-normal heatwave days between March and May. 
 
Blue Star climbed up to 5.1%, while Voltas rose 4.2%, despite the Nifty50 index falling 0.9%. LG Electronics India and Havells India saw their shares rise 2.45% and 3.4%, respectively, while PG Electroplast rose 6%.

Shares rose on forecasts that above-normal hot days are expected in most sections of the country between March and May. The India Meteorological Department (IMD) announced last week that these areas include West Rajasthan, Gujarat, Haryana, Punjab, southern and eastern Maharashtra, eastern Uttar Pradesh, Bihar, Jharkhand, Gangetic West Bengal, Odisha, Chhattisgarh, Telangana, Andhra Pradesh, and parts of north Karnataka and north Tamil Nadu.

Maximum temperatures are expected to be normal to below average across much of the country in March, with the exception of northeast and east India, some portions of the Western Himalayan region, and central and peninsular India. While many sections of the country are predicted to receive normal to above-normal rainfall in March, northeast India, as well as some parts of northwest and east-central India, may receive below-average rainfall, according to a PTI report.

Blue Star announced on Tuesday the launch of a new line of room air conditioners for the summer of 2026, with the goal of increasing its position in India’s home and commercial cooling segments. The new portfolio contains 125 room air conditioner types, including a flagship premium range, designed to meet a wide range of client needs and usage situations, according to the company’s exchange filing.
 
All of the models meet with the new Bureau of Energy Efficiency (BEE) regulations, which went into effect on 1 January, 2026. The company stated that the enlarged lineup was created to meet increased demand for energy-efficient and high-performance cooling solutions in a variety of applications.

According to Blue Star, India’s room air conditioner business is experiencing continuous structural expansion, which is being driven by increased affluence, rapid urbanisation, and increasing climate intensity.
 
The category is expected to grow from roughly 14 million units now to around 30 million units by FY30, owing to high first-time adoption in low-penetration markets and replacement demand in mature metropolitan areas. Tier III, IV, and V markets are emerging as major growth engines, outpacing Tier I and II cities, albeit on a smaller scale.

At 3:30 pm, Blue Star closed up 2.79%, while Voltas closed up 1.39%. Havells India and LG Electronics India ended 0.23% and 1.73%, respectively. Blue Star has risen 13.3% this year, while Voltas has gained 9%, compared to the Nifty50 index’s 8% decrease.

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