Capital Goods Stocks Outlook For The Week – 15 to 19.01.2018

Capital Goods Stocks Outlook For The Week – 15 to 19.01.2018

             Equity Cash/Futures/Options Segment 

The Shares of capital goods companies are likely to rise further next week, after government data showed that the sector's output expanded in November. Output of capital goods, considered a proxy for investment and consumer demand in the economy, rose 9.4% in November as against a rise of 6.8% in October, according to data released by the Central Statistics Office post market hours yesterday. The sector's growth was at 5.3% in November 2016. In the near term, engineering major Larsen & Toubro Ltd is expected to rise on the back of robust order inflows. The sector bellwether is currently experiencing an extended bull run. Most companies in the power sector have also won large orders since the start of the New Year. State-owned Bharat Heavy Electricals Ltd bagged an order worth 6.7 bln rupees from the Indian Railways yesterday. Pune-based Thermax also won a 3.3-bln rupee order from a public sector company in western India for a co-generation power plant.

Source : Cogencis Information Services Ltd.

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