Capital Goods Stocks Outlook – 10 to 14.04.2017
Capital Goods Stocks Outlook – 10 to 14.04.2017
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Stocks of capital goods companies are likely to extend gains next week, riding on the buoyant sentiment following robust outlook on some sector majors. Larsen & Toubro and Bharat Heavy Electricals should lead the pack in the short term. Stocks of L&T, which has risen 11% in the past two weeks on a series of high-value orders. The engineering behemoth has won an order from Power Grid Corp of India Ltd worth nearly 2 bln rupees for a tower package. State-owned BHEL hit a one-year high at 174.65 rupees earlier this week, as the company said it exceeded the capacity addition target in the utility segment during the 12th Five-year Plan period that ended March. In the five-year period, the company added 45,274 MW of capacity in the utility segment, higher than the target of 41,661 MW. BHEL is on course towards the 200-rupee mark in the near-tomedium term if the positive momentum around it sustains. Analysts are also bullish on Siemens' stock, as it continues to gain from consortium Sumitomo Electric Industries' $520-mln order win from Power Grid. Market participants would also keep a watch on the Index of Industrial Production data for February, to be released post market hours on Wednesday by the Central Statistics Office.
Source : Cogencis Information Services Ltd.
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Capital Goods Stocks Outlook – 10 to 14.04.2017
( www.rupeedesk.in )
Source : Cogencis Information Services Ltd.