Capital Goods Stocks Outlook For The Week - 30.10.2017 To 03.11.2017
Capital Goods Stocks Outlook For The Week - 30.10.2017 To 03.11.2017
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Stocks of capital goods companies are seen rising further next week. Stocks of capital goods companies rose this week due to a positive sentiment created following the August output data and
better than expected earnings by some companies. Capital goods' output grew 5.4% on year in August, compared with a contraction of 1.3% in July. Capital goods stocks rose 0.6-21.2% during the week, while the BSE Capital Goods index jumped 4.6%. Shares of state-owned Engineers India Ltd rose 21.2% this week as the company's Jul- Sep earnings were higher than estimates. The company posted a 27.1% on year rise in consolidated net profit at 1.2 bln rupees in Jul-Sep while revenue
rose 26.6% to 4.3 bln rupees. Sector heavyweights Larsen & Toubro Ltd and Bharat Heavy Electricals Ltd are yet to announce their Jul-Sep results. All eyes will be on earnings of Larsen & Toubro and BHEL. A good show can provide further boost to the sector. We have pegged Larsen & Toubro's consolidated net profit at 12.36 bln rupees, down 13.8% on year, and net sales at 272.93 bln rupees, up 9.5% on year. We will also watch out for the earnings of Bharat Heavy Electricals. We expect the company to report a net profit of 1.47 bln rupees, up 35.5% on year, during the quarter, while net sales are seen at 66.80 bln rupees up 2% on year. State-owned Bharat Heavy Electricals could see an upside next week reaching the 102 rupee mark next week. Stocks of other capital goods
companies could also ride on the upbeat market sentiment and rise next week.
Source : Cogencis Information Services Ltd.
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( www.rupeedesk.in )
Stocks of capital goods companies are seen rising further next week. Stocks of capital goods companies rose this week due to a positive sentiment created following the August output data and
better than expected earnings by some companies. Capital goods' output grew 5.4% on year in August, compared with a contraction of 1.3% in July. Capital goods stocks rose 0.6-21.2% during the week, while the BSE Capital Goods index jumped 4.6%. Shares of state-owned Engineers India Ltd rose 21.2% this week as the company's Jul- Sep earnings were higher than estimates. The company posted a 27.1% on year rise in consolidated net profit at 1.2 bln rupees in Jul-Sep while revenue
rose 26.6% to 4.3 bln rupees. Sector heavyweights Larsen & Toubro Ltd and Bharat Heavy Electricals Ltd are yet to announce their Jul-Sep results. All eyes will be on earnings of Larsen & Toubro and BHEL. A good show can provide further boost to the sector. We have pegged Larsen & Toubro's consolidated net profit at 12.36 bln rupees, down 13.8% on year, and net sales at 272.93 bln rupees, up 9.5% on year. We will also watch out for the earnings of Bharat Heavy Electricals. We expect the company to report a net profit of 1.47 bln rupees, up 35.5% on year, during the quarter, while net sales are seen at 66.80 bln rupees up 2% on year. State-owned Bharat Heavy Electricals could see an upside next week reaching the 102 rupee mark next week. Stocks of other capital goods
companies could also ride on the upbeat market sentiment and rise next week.
CAPITAL GOODS - Up
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Source : Cogencis Information Services Ltd.
