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India headed for capex revival, $360 bln in orders - BofA

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Reuters
Last Updated : Nov 19 2014 | 11:26 AM IST

Reuters Market Eye - Bank of America Merrill Lynch expects capex revival for India.

Cites pent-up demand, governments focus to ease bottlenecks as key factors.

Says expect $360 billion in orders over FY15-17 translating into a "robust" 11-20 pct growth for the industrials sector.

Keeps "buy" on Larsen & Toubro , Crompton Greaves , Bharat Electronics , and Voltas .

Keeps "underperfrom" on Bharat Heavy Electricals , ABB India , Cummins India , and Siemens India .

Maintains "neutral" on Thermax.

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(Reporting by Abhishek Vishnoi)

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First Published: Nov 19 2014 | 11:23 AM IST

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