 "Capital Goods")
The trend for new orders won or awarded in the first two months of the current quarter appear tepid compared to a year ago, shows brokerage estimates and company disclosures.
According to Antique Stock Broking, for February, projects awarded remained flat year-on-year (Y-o-Y) at Rs 56,000 crore. Those at ICICI Securities noted a similar trend for the defence segment, stating orders have started to flow but the pace remains muted.
Data compiled for the country’s largest engineering firm Larsen & Toubro (L&T) confirms sluggishness, when compared to a year ago.
So far in Q4, up to March 19, L&T reported
