Capital Goods Stocks for the week – 07 to 11.08.2017

Capital Goods Stocks for the week – 07 to 11.08.2017

Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040

Capital Goods Stocks for the week – 07 to 11.08.2017 )

The shares of capital goods companies are seen trading on a mixed note next week. Sector major Larsen & Toubro Ltd's stock is expected to rise while Siemens Ltd could come see a further downside. Engineering behemoth L&T could trade in the range of 1,190-1,210 rupees next week as sentiment for the stock is positive after the company announced a significant order win worth 33.75 bln rupees from the Mauritius government. Anticipate strong margin recovery through power, heavy engineering, electrical, and automation segments. Shares of Siemens, which fell 5.7% over the last week, are likely to decline further in the short term. We expect CG Power & Industrial Solutions to move in a tight range in the near term, after the company, earlier this week, completed the sale of wholly-owned step-down subsidiary CG Power USA Inc to WEG Electric Corp for $37 mln. The Avantha Group company will use proceeds from the sale to retire part of its overseas debt. CG Power should move between 84 and 88 rupees over the next few weeks. Market participants will also keep an eye on Thermax Ltd and Bharat Heavy Electricals Ltd as they are scheduled to detail their Apr-Jun earnings on Tuesday and Thursday, respectively.

Source : Cogencis Information Services Ltd.