Capital Goods Stocks Outlook for the week - 23.12.2013 - 27.12.2013
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K.Karthik Raja
Dec 23, 2013, 6:24:32 AM12/23/13
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Capital Goods Stocks Outlook for the week - 23.12.2013 - 27.12.2013
www.rupeedesk.in
Stocks of most capital goods companies are seen rangebound next week with absence of any major sector-specific triggers. However, investors are seen bullish on shares of sector bellwether Larsen & Toubro, state-owned Bharat Heavy Electricals and Avantha Group-owned Crompton Greaves. L&T yesterday said it is in talks with a global investor for selling stake in its subsidiary. The company has also sought Foreign Investment Promotion Board's approval for foreign direct investment for its arm.
In September, the Mumbai-based capital goods and engineering major had said it expects its arm L&T IDPL to have an equity requirement of around 82 bln rupees over 2014-18. L&T IDPL has been looking to raise around 20 bln rupees through equity infusion by an investor, the management had said. In addition to this, L&T has traditionally posted strong results in the second half of the financial year as a lot of large government orders get finalized during this time.
Stocks of electrical equipment maker Crompton Greaves are also seen trading with a positive bias as the company is expected to show improvement in its Oct-Dec quarter results, owing to the completion of restructuring at its plant in Belgium.
www.rupeedesk.in
Stocks of most capital goods companies are seen rangebound next week with absence of any major sector-specific triggers. However, investors are seen bullish on shares of sector bellwether Larsen & Toubro, state-owned Bharat Heavy Electricals and Avantha Group-owned Crompton Greaves. L&T yesterday said it is in talks with a global investor for selling stake in its subsidiary. The company has also sought Foreign Investment Promotion Board's approval for foreign direct investment for its arm.
In September, the Mumbai-based capital goods and engineering major had said it expects its arm L&T IDPL to have an equity requirement of around 82 bln rupees over 2014-18. L&T IDPL has been looking to raise around 20 bln rupees through equity infusion by an investor, the management had said. In addition to this, L&T has traditionally posted strong results in the second half of the financial year as a lot of large government orders get finalized during this time.
Stocks of electrical equipment maker Crompton Greaves are also seen trading with a positive bias as the company is expected to show improvement in its Oct-Dec quarter results, owing to the completion of restructuring at its plant in Belgium.
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