Capital Goods Stocks Outlook for the week – 31.07.2017 to 04.08.2017
Capital Goods Stocks Outlook for the week – 31.07.2017 to 04.08.2017
( www.rupeedesk.in )
Stocks of capital goods companies are likely to trade with a positive bias next week after sector heavyweight Larsen& Toubro reported robust earnings for the June quarter. The engineering major posted a 9.7% on-year growth in consolidated net sales to 239.89 bln rupees, surpassing projections of an 8% rise. Consolidated net profit, too, increased 46.4% on year to 8.92 bln rupees, which was largely in line with estimates. L&T numbers should lift the spirits of the capital goods stocks. The company's commentary on domestic infrastructure pick up also augurs well for the sector. L&T Chief Financial Officer R. Shankar Raman had said on Friday that there were first signs of some sectors in the domestic economy picking up pace. Analysts on Siemens' stock as the company is expected to report a year-on-ear higher net profit for Apr-Jun on Monday. The company's bottom line will rise 22% on year to 1.58 bln rupees during the quarter. Net sales are seen growing 2% on year to 26.19 bln rupees. Market participants will also keep an eye on stocks of Cummins India as the company will detail its Apr-Jun earnings on Thursday.
Source : Cogencis Information Services Ltd.
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Capital Goods Stocks Outlook for the week – 31.07.2017 to 04.08.2017
( www.rupeedesk.in )
Stocks of capital goods companies are likely to trade with a positive bias next week after sector heavyweight Larsen& Toubro reported robust earnings for the June quarter. The engineering major posted a 9.7% on-year growth in consolidated net sales to 239.89 bln rupees, surpassing projections of an 8% rise. Consolidated net profit, too, increased 46.4% on year to 8.92 bln rupees, which was largely in line with estimates. L&T numbers should lift the spirits of the capital goods stocks. The company's commentary on domestic infrastructure pick up also augurs well for the sector. L&T Chief Financial Officer R. Shankar Raman had said on Friday that there were first signs of some sectors in the domestic economy picking up pace. Analysts on Siemens' stock as the company is expected to report a year-on-ear higher net profit for Apr-Jun on Monday. The company's bottom line will rise 22% on year to 1.58 bln rupees during the quarter. Net sales are seen growing 2% on year to 26.19 bln rupees. Market participants will also keep an eye on stocks of Cummins India as the company will detail its Apr-Jun earnings on Thursday.
Source : Cogencis Information Services Ltd.
