No slowdown blues for AC makers as double-digit sales growth continues

Shares of air conditioning (AC) equipment makers such as Voltas, Blue Star and Johnson Controls-Hitachi Air Conditioning India, are trading 18-28 per cent higher from their July-August lows, with some even near 52-week highs.

While the cut in corporate tax rates are responsible for part of these gain (given the estimated 4-12 per cent rise in earnings), the strong sales momentum, which has helped companies beat slowdown blues, is also keeping the street and analysts bullish on these counterS.

Source: BS