'Blue Star's outlook positive, target Rs 464'

In a chat with ET Now, Sharmila Joshi, Co-head PCG Sales, Emkay Global Financial Services, talks about the outlook of Blue Star.

What exactly do you like about Blue Star?

The company has a very strong set of numbers and its management indicated that they are seeing growth across all segments. As against a slightly cautious stance earlier, we are seeing this change in what the management is saying by really projecting a very positive outlook. Even on the profit side, the number actually surprises positively because we were expecting a 16% decline year-on-year and the company has given a 17% kind of a rise year-on-year. Basically, we are seeing a progression from being a pure HVAC player to an MEP player and that is opening up opportunities for them. Whether you are talking on the project side, non-project side or commercial side, you are seeing a good increase in their businesses as well as the kind of order book that they have. So, it is another stock that we like with a target of about Rs 464.