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Stocks of most capital goods companies are seen trading rangebound, with investors preferring shares of Larsen & Toubro and Siemens. The Indian arm of German engineering major Siemens AG today reported its Jan-Mar number after market hours. Siemens positively surprised the Street by posting a better-than-estimated net profit of 882.65 mln rupees, up 194.7% on year.
According to Indian arm of Germany-based Siemens AG, was seen reporting Jan-Mar net profit of 806 mln rupees. However, the company's net sales for the quarter under review fell 8.6% on year to 26.57 bln rupees. Analysts had pegged a mere 2% falls in net sales for Jan-Mar. The company's operating margin jumped 480 basis points on year to 6.88% in Jan-Mar as a result of the company's cost management measures.
However, electrical equipment maker Crompton Greaves and Bharat Heavy Electricals are seen down next week on account of profit booking. Support for the stocks of Crompton Greaves is seen at 168 rupees and resistance is seen at 182 rupees.
Stocks of most capital goods companies are seen trading rangebound, with investors preferring shares of Larsen & Toubro and Siemens. The Indian arm of German engineering major Siemens AG today reported its Jan-Mar number after market hours. Siemens positively surprised the Street by posting a better-than-estimated net profit of 882.65 mln rupees, up 194.7% on year.
According to Indian arm of Germany-based Siemens AG, was seen reporting Jan-Mar net profit of 806 mln rupees. However, the company's net sales for the quarter under review fell 8.6% on year to 26.57 bln rupees. Analysts had pegged a mere 2% falls in net sales for Jan-Mar. The company's operating margin jumped 480 basis points on year to 6.88% in Jan-Mar as a result of the company's cost management measures.
However, electrical equipment maker Crompton Greaves and Bharat Heavy Electricals are seen down next week on account of profit booking. Support for the stocks of Crompton Greaves is seen at 168 rupees and resistance is seen at 182 rupees.
