Capital Goods Stocks Outlook for the week – 09 to 13.01.2017
Capital Goods Stocks Outlook for the week – 09 to 13.01.2017
( www.rupeedesk.in )
Stocks of capital goods companies are likely to move in a narrow range next week, in the absence of significant
triggers. This week, while stock of major capital goods companies rose 3-8%, the BSE Capital Goods Index gained
3.1%.
Sector bellwether Larsen & Toubro is expected to remain within range next week, as some of its recent order wins
may carry low valuations. Stock of state-owned Bharat Heavy Electricals is likely to see an upside in the short term
on the back of a positive outlook for the company, due to robust order inflows. The company received orders worth
about 41.30 bln rupees during Oct-Dec, worth nearly 51.30 bln rupees in the first half of 2016-17 (Apr-Mar).
Another Bullish stock on Cummins India in anticipation of good business prospects in the near term. On technical
charts, the stock has shown signs of a breakout from a declining trend in the last three months.
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Capital Goods Stocks Outlook for the week – 09 to 13.01.2017
( www.rupeedesk.in )
