Indian capital goods cos to see moderate Q2 growth on strong orders - brokerage

Solar Industries India

06/10/2023 05:51

** Brokerage Nirmal Bang Institutional Equities sees moderate growth in
Indian capital goods cos on execution of robust Q2 order books 
    ** Broker remains positive on sector in near- to medium-term on account of
healthy order inflows and recovery in capex cycle 
    ** "Expect topline growth of 11.8% YoY for cos under our coverage like Apar
Industries  APAR.NS , Triveni Turbine  TRVT.NS , Solar Industries  SLIN.NS ,
Power Mech Projects  POMP.NS  among others" - Nirmal Bang analysts 
    ** Says margin expansion to drive profitability on a yearly basis for Q2 on
lower freight costs and better supply chain dynamics 
    ** Sets "buy" rating for TRVT, SLIN and POMP 

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))