Capital Goods Stocks Outlook For The Week – 20 To 24.11.2017
Capital Goods Stocks Outlook For The Week – 20 To 24.11.2017
Stocks of capital goods companies are likely to be weak next week due to persisting lack of major orders. Stocks of most capital goods companies fell as much as 5% this week, while the BSE Capital Goods index declined 2.7%. Decent Jul-Sep earnings of engineering behemoth Larsen & Toubro
failed to lift sentiment for capital goods stocks amid the grim scenario for the sector. Earlier this week, L&T reported a 27% on year rise in consolidated net profit for Jul-Sep, but cut its 2017-18
(Apr-Mar) annual order inflow growth guidance to largely flat from 12-14% earlier, citing a subdued domestic investment environment. The engineering conglomerate registered an 8% on-year decline in new order inflows during the September quarter, largely on account of a 20% on-year slippage in domestic order inflows during the quarter. Prospects of state-owned Bharat Heavy Electricals also look bleak in the short term. The stock fell 5% to 87.85 rupees this week. The stock of Siemens , company production automation division, known as process industries and drives, saw a sharp fall in operating profit in the September quarter at 84 mln rupees from 296 mln in the year-ago quarter. This was despite an 8% increase in its topline at 5.49 bln rupees. Stock of CG Power & Industrial Solution Ltd are seen trading in a narrow range next week.
Source : Cogencis Information Services Ltd.
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Capital Goods Stocks Outlook For The Week – 20 To 24.11.2017
Stocks of capital goods companies are likely to be weak next week due to persisting lack of major orders. Stocks of most capital goods companies fell as much as 5% this week, while the BSE Capital Goods index declined 2.7%. Decent Jul-Sep earnings of engineering behemoth Larsen & Toubro
failed to lift sentiment for capital goods stocks amid the grim scenario for the sector. Earlier this week, L&T reported a 27% on year rise in consolidated net profit for Jul-Sep, but cut its 2017-18
(Apr-Mar) annual order inflow growth guidance to largely flat from 12-14% earlier, citing a subdued domestic investment environment. The engineering conglomerate registered an 8% on-year decline in new order inflows during the September quarter, largely on account of a 20% on-year slippage in domestic order inflows during the quarter. Prospects of state-owned Bharat Heavy Electricals also look bleak in the short term. The stock fell 5% to 87.85 rupees this week. The stock of Siemens , company production automation division, known as process industries and drives, saw a sharp fall in operating profit in the September quarter at 84 mln rupees from 296 mln in the year-ago quarter. This was despite an 8% increase in its topline at 5.49 bln rupees. Stock of CG Power & Industrial Solution Ltd are seen trading in a narrow range next week.
Source : Cogencis Information Services Ltd.
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