BSE Capital Goods index hits fresh 52-week high; L&T, BEL gain up to 3%

Given the likely recovery in capex from public sector, multilateral funded projects and certain process industries, analysts at ICICI Securities believe, companies like L&T will be key beneficiary

The S&P BSE Capital Goods index hit a fresh 52-week high of 17,963, up 1 per cent, on the BSE on Monday on expectation of sustained growth momentum.

Earlier on December 8, the capital goods index had surpassed its previous 52-week high of 17,796 touched on January 24, 2020. In the past two months, the index has rallied 30 per cent as compared to a 13-per cent gain in the S&P BSE Sensex.

Larsen & Toubro (L&T), Bharat Electronics (BEL), Graphite India, NBCC and Lakshmi Machine Works from the index were up in the range of 2 per cent to 6 per