Stocks of capital goods and engineering companies are likely to track the likely rangebound movement of the broad market next week. Apr-Jun earnings will guide stock-specific movement in the market. Blue-chip stocks, such as Larsen & Toubro Ltd, Bharat Heavy Electricals Ltd, and Siemens, may extend gains and see 2-3% upside in the coming week on value buying. Among the companies detailing their Apr-Jun earnings next week, ABB Ltd is seen posting 63% rise in net profit at 631 mln rupees on a low base and moderate 11% growth in net sales at 18.78 bln rupees. ABB will detail its earnings Wednesday. Siemens Ltd will also detail its quarterly earnings next week on Friday. Stocks of BGR Energy Systems are likely to be in focus in early trade Monday as the company posted lower-than-estimated net sales of 6.1 bln rupees and net profit of 336.6 mln rupees in Apr-Jun.
In mid-cap stocks, Cummins India given its strong, Street estimate-beating Apr-Jun revenue growth of 21.5%. The company's Apr-Jun bottomline expanded 43.6% on year due to robust sales and improved operational performance. Cummins Inc, the global parent of Cummins India, also posted a good set of Apr-Jun numbers. Cummins (Inc) continues to benefit from its geographic diversification and leadership position in a number of end markets.
In mid-cap stocks, Cummins India given its strong, Street estimate-beating Apr-Jun revenue growth of 21.5%. The company's Apr-Jun bottomline expanded 43.6% on year due to robust sales and improved operational performance. Cummins Inc, the global parent of Cummins India, also posted a good set of Apr-Jun numbers. Cummins (Inc) continues to benefit from its geographic diversification and leadership position in a number of end markets.
