Capital Goods Stocks Outlook for the week – 08 to 12.08.2016
In a range with negative bias next week
( www.rupeedesk.in )
Stocks of capital goods companies are expected to trade
within a range with a negative bias next
week owing to weak Apr-Jun earnings and bleak outlook on sector
majors. Sector bellwether Larsen
& Toubro could see a near-11% fall from current levels
in the next few weeks. Stocks of Cummins
India and Siemens may not see an upside in the forthcoming
week, owing to lower than expected net
profit for the quarter ended June. Cummins India reported a
14.3% on-year fall in net profit at 1.8
bln rupees and a 4% on-year fall in net sales at 12.3 bln
rupees in Apr-Jun. Siemens' net profit
declined 22.7% on year to 1.30 bln rupees in the June
quarter, while net sales were up 10.4% yearon-
year at 25.63 bln rupees. Analysts had estimated the
engineering company's net profit at 1.68 bln
rupees, same as that a year ago.