Capital Goods Sector

Analysts at Emkay Global Financial Services uphold their constructive view on the sector, driven by its strong tender pipeline, softening commodity prices and expectation of good order inflow growth.

Timken India, Praj Industries, AIA Engineering and ABB were among other individual stocks from the S&P BSE Capital Goods index, up 4 - 5 per cent each.

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Revenue growth estimates have moderated post Q2 but the bottom may be close

Key monitorables include tender pipeline and emerging supply-chain scenario, say analysts and players

Nove comes after customs dept observed several consignments from South-East Asia in which rules of origin were flouted, and the FTA route was being used to evade duties

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Signs of renewed capex and improving margins; high inflation, supply-chain disruptions and black-swan events among risks

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Sequentially, numbers likely to decline, since June quarter is seasonally weak

Traders' body CAIT on Wednesday said it will launch a campaign from July 10, demanding the Delhi government to withdraw the five-month ban on entry of medium and heavy goods vehicles in Delhi

The strong stock price momentum is now backed by improving fundamentals

The company's construction arm has secured significant orders (ranging between Rs 1,000 to Rs 2,500 crore) for its businesses in India.

Indications of demand expansion for manufacturing companies, stronger balance sheets are some positives

Exports of short-cycle products are expected to improve, aiding revenue mix

Acquisition of C&S Technologies is seen margin accretive and will augment exports

Consumer demand likely to take a hit owing to reduction in overall public expenditure

The S&P BSE Capital Goods Index hit a 52-week high of 18,252 on Monday

Given the likely recovery in capex from public sector, multilateral funded projects and certain process industries, analysts at ICICI Securities believe, companies like L&T will be key beneficiary

These companies have lost 70 per cent of their market capitalisation in the past six years and four of them are down 90 per cent or more during the period