Capital Goods Stocks Outlook for the week – 26 to 30.09.2016
Seen trading in a narrow range next week
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Seen trading in a narrow range next week
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5 Stocks of capital goods companies are likely to trade in a tight range with a negative bias next week, as the broad outlook on the sector continues to be dull, and due to lack of significant triggers. Traders will, however, find opportunities in select counters in the capital goods space in the short term. Action will largely be stock-specific in the coming week. Stocks of Larsen & Toubro might record gains next week, as the company has bagged a $99.7-mln order from Vietnam Border Guard to build high-speed patrol vessels. The sector bellwether's subsidiary, L&T Technology Services, yesterday listed at 920 rupees, a near 7% premium to its issue price of 860 rupees, which could push the parent company's scrip to 1,520 rupees in the second half of the coming week. State-owned Bharat Heavy Electricals might see a slight upside next week, as its Chairman and Managing Director Atul Sobti recently said that in 2015-16 (Apr-Mar), the company recorded the highest-ever commissioning of projects and the highest order booking in the last five years. The company closed the financial year ended March with a total order book of 1.10 trln rupees for execution in 2016-17 and beyond. Crompton Greaves shares could fall in the coming week, as the Avantha Group company's business prospects in the near term appear weak.
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