Capital Goods Stocks Outlook For The Week - 26 to 30.11.2018
The Stocks of capital goods companies are likely to be subdued next week as a weak industrial growth and a bleak outlook on order inflows in the run-up to the general elections next year may dampen sentiment. While the revival in the private sector capex is still some time away (about 12-15 months), we believe governmentsponsored infrastructure projects are also likely to get deferred on account of upcoming general election in the next six months and liquidity crisis impacting the financial closure. The likely weakness in order inflows may add to the bleak outlook for the sector, already weighed by a fall in industrial growth. Earlier this week, the Central Statistics Office reported that India's industrial growth moderated to a four-month low of 4.5% in September. Growth of the capital goods sector deteriorated to 5.8% in September, from 9.3% in the preceding month and 8.7% in the year-ago period. Capital goods stocks may also be weighed down by weakness in the broader market in an event-heavy week as investors take a more cautious approach to equities.
Source : Cogencis Information Services Ltd.
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The Stocks of capital goods companies are likely to be subdued next week as a weak industrial growth and a bleak outlook on order inflows in the run-up to the general elections next year may dampen sentiment. While the revival in the private sector capex is still some time away (about 12-15 months), we believe governmentsponsored infrastructure projects are also likely to get deferred on account of upcoming general election in the next six months and liquidity crisis impacting the financial closure. The likely weakness in order inflows may add to the bleak outlook for the sector, already weighed by a fall in industrial growth. Earlier this week, the Central Statistics Office reported that India's industrial growth moderated to a four-month low of 4.5% in September. Growth of the capital goods sector deteriorated to 5.8% in September, from 9.3% in the preceding month and 8.7% in the year-ago period. Capital goods stocks may also be weighed down by weakness in the broader market in an event-heavy week as investors take a more cautious approach to equities.
Source : Cogencis Information Services Ltd.
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