Kotak Securities has a ‘buy' rating on the central air-conditioning systems major Blue Star, as it feels it will report handsome earnings growth over the next two years (CAGR of 78% between FY07 and FY09). The company being in a position to offer the best requirement for central as well as commercial refrigeration equipment enabling it to maintain a leading market position in this segment, remains one of the key reasons for its bullishness.

The brokerage also feels that the stock is a play on structural themes like IT/ITeS and retail. However, the brokerage warns that appreciation in the rupee and slowdown in IT/ITeS services remain key concerns. Kotak calculates that at the current price, BSL is trading at 25.1x and 19.3 times FY08 and FY09 earnings, respectively, and on a forward EV/EBITDA basis, the stock is trading 12.6 times.

Electrical system controls AC units, lowers energy use

Manufacturer of electrical equipment, cable management systems and wiring accessories, Legrand, has developed energy saving occupancy sensors known as the Wattstopper system. The product is based on passive infrared and ultrasonic technologies, are designed to monitor and control lighting and temperature levels in domestic, commercial and industrial applications. “Recently launched Wattstopper switches and sensors turn lighting and air-conditioning off in unoccupied areas," says Legrand South Africa national sales manager Timothy Mountjoy. “This saves users hours of wasted energy each day, thereby ensuring substantial energy savings at a crucial time in this country," he says. Wattstopper low temperature sensors are designed for installation in cold storage facilities and freezers, and operate on the basis of passive infrared technology that senses occupancy by detecting the difference between heat emitted from the human body in motion and the background space.

Watsco, Incorporated Earnings Conference Call (Q4 2007)

Watsco, Inc., along with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States. Its products primarily comprise residential central air conditioners; light commercial air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment and systems; and other specialized equipment. The company also offers various parts, including replacement compressors, evaporator coils, motors, and other component parts; and supplies consisting of thermostats, insulation material, refrigerants, ductwork, grills, registers, sheet metal, tools, copper tubing, concrete pads, tape, adhesives, and other ancillary supplies. Watsco operates through approximately 380 locations in 32 states. It distributes its products to contractors and dealers who service the replacement and new construction markets.

Milroy conversion gets OK from city council

At least one city councillor said it was the hardest decision they've made as a group.