Buzzing stock: Amber Enterprises India rises 15 per cent; makes new 52-week high

Ganesh V
/ Categories: Trending, DSIJ News
Buzzing stock: Amber Enterprises India rises 15 per cent; makes new 52-week high

During Friday’s trading session, the stock of Amber Enterprises India registered a new 52-week high.

The stock jumped more than 15 per cent and made a fresh 52-week high of Rs 2,300 on BSE. Today's intraday high of Rs 2,300 was the stock's fresh 52-week high, which surpassed its previous high of Rs 2,088.85 hit on October 5, 2020.

The stock is rallying soon after the announcement came from the Directorate General of Foreign Trade (DGFT) banning the import of air conditioners (AC).

DGFT has moved split system and other ACs with refrigerants into the prohibited category from the current free category.

On a YTD basis, the stock has gained by 90.95 per cent. According to BSE data, the stock traded at a price-to-book ratio of 6.23.

Other consumer durables share like Voltas, Blue Star and Johnson Controls were up by 4.32 per cent, 5.18 per cent, and 5.60 per cent, respectively.

S&P BSE Consumer Durables index was up by 413.31 points or 1.72 per cent.

At 1.12 pm, the stock was trading 7.11 per cent higher at Rs 2,138.65 on BSE.

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