Jefferies sees gains for India's industrials on capex uptick, indigenisation focus

KEI Industries

03/01/2024 06:18

** India's focus on indigenisation and rise in capex should
help industrials and power stocks in 2024, says Jefferies
    ** Adds, industrials tend to give strong absolute returns in
election year
    ** Identifies Larsen and Toubro  LART.NS , Siemens
 SIEM.NS , Thermax  THMX.NS  and KEI Industries  KEIN.NS  as top
picks in the sector
    ** Expects gains from capex cycle uptick for LART, power
transmission segment for KEIN and SIEM, clean energy business
for THMX 
    ** Raises target price for all the 10 industrials in its
coverage universe
    ** Shares of LART, SIEM, THMX and KEIN up between 0.2% and
2.7%, on the day - LSEG data
    

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Jefferies expects shares of India's industrials to gain in 2024 
  https://tmsnrt.rs/48mpSgG
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 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))