Capital Goods Stocks Outlook for the week – 26 to 30.12.2016
Capital Goods Stocks Outlook for the week – 26 to 30.12.2016
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The shares of capital goods companies are expected to see further correction next week, in line with the broader market, and in the absence of positive cues in the short term. This week, shares of major capital goods companies fell 1.7-6.8%, with the BSE Capital Goods Index down 2% during this period. The sector is likely to be bereft of any major trigger in the next few weeks some stock-specific action at best. Sector bellwether Larsen & Toubro is likely to trade range-bound next week. Shares of Crompton Greaves, which have been falling since the company's announcement to call off the sale of its overseas transmission and distribution business to a US private equity fund, are expected to correct further. The stock, which lost about 3% through the week, might find strong support at 45 rupees in the near term. The Stateowned Bharat Heavy Electricals, which lost 3% this week, could slip further in the next seven day.
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Capital Goods Stocks Outlook for the week – 26 to 30.12.2016
The shares of capital goods companies are expected to see further correction next week, in line with the broader market, and in the absence of positive cues in the short term. This week, shares of major capital goods companies fell 1.7-6.8%, with the BSE Capital Goods Index down 2% during this period. The sector is likely to be bereft of any major trigger in the next few weeks some stock-specific action at best. Sector bellwether Larsen & Toubro is likely to trade range-bound next week. Shares of Crompton Greaves, which have been falling since the company's announcement to call off the sale of its overseas transmission and distribution business to a US private equity fund, are expected to correct further. The stock, which lost about 3% through the week, might find strong support at 45 rupees in the near term. The Stateowned Bharat Heavy Electricals, which lost 3% this week, could slip further in the next seven day.
