| Stocks to buy: Blue Star, Ruchi Soya, Simplex Infra, Kalyani Steels
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.
Copper drawing sinners to local churches
ANDERSON COUNTY Copper thieves have left no doubt that security is needed at institutions that open their doors open to sinners. In about two months, thieves have targeted three Anderson County churches, causing about $20,000 in damage from the theft of copper. Between 8 p.m. Sunday and 7 p.m. Thursday, thieves stripped copper from two central air conditioning and heating units behind the Seventh Day Adventist Church on Osborne Avenue in Anderson. The loss is estimated at $12,000, according to the Anderson City Police incident report. About Jan. 19, thieves coordinated their arrival with that of a wintry mix to steal copper from a heating and cooling system at Thompson United Methodist Church on West Market Street, according to the Anderson police. The Lennox system is valued at $3,600, according to the incident report.
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.
An Iraqi soldier guards a polling station in Wana,
As a result, last month's national referendum on the constitution was a key factor in determining whether or not the majority of the Iraqi people agree with the vision of the New Iraq —or reject it entirely. The narrow margin by which the referendum passed makes clear there's no definitive answer to that question. Until just two days before the polls opened, the leadership of most Sunni groups were once again encouraging their followers to boycott the vote. Last-minute talks and promises of immediate amendments convinced the largest of them, the Iraqi Islamic Party, to encourage their supporters to vote “Yes." A day after the announcement, its headquarters in Baghdad was attacked by a bomber, underscoring the fracture even among homogenous groups. In contrast to their leadership's decision to adopt the new constitution, Sunnis from the provinces of Anbar and Salah El-Din turned out in huge numbers and voted it down.
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