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Early signs of recovery for capital goods companies

Edelweiss in a note dated May 15 says that the recovery in capex is pretty broad

Hamsini Karthik  |  Mumbai 

In February, when most capital goods companies showed improved capacity utilisation, it was seen  as an early sign of turnaround in the sector. That belief has strengthened, thanks to a strong March quarter performance by ABB India and Siemens India. Even as their net profits took a hit due to changes in accounting norms, the key takeaway was eye-grabbing growth in order inflows. For ABB India, the 28 per cent year-on-year growth in order inflows came from the power transmission and distribution (T&D) segment, while pockets such as renewable energy and railways also supported it. ...

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First Published: Wed, May 17 2017. 23:52 IST
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