Capital Goods Stocks Outlook for the week – 26 to 30.09.2016

Capital Goods Stocks Outlook for the week – 26 to 30.09.2016

 Seen trading in a narrow range next week  


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  5 Stocks of capital goods companies are likely to trade in a tight range with a negative bias next week, as  the  broad  outlook  on  the  sector  continues  to  be  dull,  and  due  to  lack  of  significant  triggers. Traders  will,  however,  find opportunities  in  select  counters in  the  capital goods space  in  the  short term.  Action  will  largely  be  stock-specific  in  the  coming  week.  Stocks  of  Larsen  &  Toubro  might record gains next week, as the company has bagged a $99.7-mln order from Vietnam Border Guard to  build  high-speed  patrol  vessels.  The  sector  bellwether's  subsidiary,  L&T  Technology  Services, yesterday listed at 920 rupees, a near 7% premium to its issue price of 860 rupees, which could push the parent company's scrip to 1,520 rupees in the second half of the coming week.   State-owned  Bharat  Heavy  Electricals  might  see  a  slight  upside  next  week,  as  its  Chairman  and Managing  Director  Atul  Sobti  recently  said  that  in  2015-16  (Apr-Mar),  the  company  recorded  the highest-ever  commissioning  of  projects  and  the  highest  order  booking  in  the  last  five  years.  The company  closed  the  financial  year  ended  March  with  a  total  order  book  of  1.10  trln  rupees  for execution in 2016-17 and beyond.  Crompton Greaves shares could fall in the  coming week,  as the Avantha Group company's business prospects in the near term appear weak. 

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