Shares of Diffusion Engineers surged 12% to Rs 333.20 on the BSE in Friday's intra-day trade, and have zoomed 98% against its issue price of Rs 168 per share.
The capital goods sector's long-term outlook remains strong across segments as companies focus on energy transition globally, on top of manufacturing localisation and infra development pace in India.
Brokerages predict 12-22% revenue growth and a 13-18% rise in Ebitda
IT Services and FMCG companies reported a slight uptick in revenue growth in Q1FY25, but their growth remains in low single digits
The new policy will replace the existing National Capital Goods Policy 2016
Order inflows expected to have declined in June quarter due to LS elections
Bharat Electronics, Larsen & Toubro, Hindustan Aeronautics, CG Power, Bharat Heavy Electricals and Schaeffler India have rallied between 7% and 9% in intra-day trade
Nine of the large engineering and capital goods companies combined have a capex of roughly Rs 11,500 crore or more under way
Kedaara Capital has raised a record $1.7 billion to put it on par with the deep-pocketed global players that have dominated the space for years
Many engineering and capital goods companies are currently executing multi-year high order books
Brokerages - Motilal Oswal, Nuvama, Kotak Institutional Equities and Prabhudas Lilladher - estimated revenue growth for their capital goods universe to be 11-16 per cent year-on-year
Commodity prices are still moderate due to slower global demand
"This intuitively looks like an all-time high factoring in inflation," said Anupama Arora, a senior independent analyst who tracks the capital goods sector
The DGFT has now brought into sharp focus the urgency to deal with the EODC applications quickly and get the statuses of the authorisations updated where the EODCs are issued
Margin improvement anticipated in Q2FY24 results amid lower costs
An analysis conducted by PRIME Infobase reveals the sectors where overseas funds turned the most bearish
Meanwhile, they were net sellers in metal stocks worth Rs 5,930 crore, financial services worth Rs 3,672 crore, and oil, gas and consumables worth Rs 1,778 crore
Thus far in the calendar year 2023, the stock has rallied 59 per cent as compared to 6 per cent rise in the S&P BSE Sensex
As a result, fast-moving orders have picked up
Top executives from L&T have pointed out that orders booked at lower commodity prices during the pandemic have strained margins for the company