You are here: Home » Markets » News
Business Standard

Capital goods stocks in focus; L&T, Siemens, BHEL up over 2%

S&P BSE Capital Goods index was up 4.5% in past three days against 0.66% rise in Sensex.

SI Reporter  |  Mumbai 

A sign of Larsen and Toubro (L&T) is placed on a road divider in Mumbai
A sign of Larsen and Toubro (L&T) is placed on a road divider in Mumbai

Shares of stocks were in focus with the S&P BSE index gaining nearly 2%, extending its two-session long gains on BSE.

(L&T), Siemens, Havells India and Bharat Heavy Electricals Limited (BHEL) were up in the range of 2% to 4% on BSE on Monday.

At 11:26 AM, the S&P BSE index, the largest gainer among sectoral indices, was up 2%, as compared to 0.58% rise in the S&P BSE Sensex. In past three trading sessions, the index surged 4.5% against 0.66% rise in the benchmark index.

was up 3% at Rs 1,209 in intra-day trade, extending its Friday’s 4% rally following reports that the company is hopeful of bagging some six defence contracts amounting to Rs 40,000 crore.

expects government orders to pick up over next one year, as post that the focus in India would shift to 2019 General Elections.

“Order inflow growth in FY18 is reliant on significant pick-up in government led infrastructure spending (particularly big-ticket urban infra projects in & around Mumbai) and fast tracking of some defense orders (particularly naval). Management is hopeful that by end FY18 one of the large naval orders (around US$ 3 billion) and a quarter of urban infra projects in Mumbai (around US$ 6 billion) shall get awarded,” JP Morgan said in a recent report.

The brokerage firm believes positives around execution pick-up, ordering momentum, core margin improvement and balance sheet repair outweigh risks and expect them to drive stock outperformance over next 1-2 years.

SUZLON ENERGY 17.00 16.15 5.3
SIEMENS 1333.20 1281.90 4.0
HAVELLS INDIA 502.90 488.10 3.0
LARSEN & TOUBRO 1204.50 1172.30 2.8
B H E L 130.85 127.80 2.4
LAK. MACH. WORKS 6085.00 6009.90 1.3
WELSPUN CORP 140.95 139.40 1.1
A B B 1354.05 1340.95 1.0
CG POWER & INDU. 87.95 87.10 1.0
BEML LTD 1871.95 1855.70 0.9

First Published: Mon, September 11 2017. 11:29 IST