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Informist, Thursday, Aug. 14, 2025

MUMBAI – Shares of capital goods companies are likely to remain in a range as market participants are yet to fully assess the impact of US tariffs. Initial expectations of analysts suggest the direct impact of tariffs on domestic capital goods companies is limited, but the impact on global demand is yet to play out.

"The markets are awaiting more evidence on the real impact of tariffs with a large part of the hike likely to reflect in earnings for Q3 (Oct-Dec) as firms engaged in advance purchases had stocked inventory during initial shocks," Elara Securities said in a report Tuesday.

Analysts are positive on capital goods companies that are dependent on government orders, as their exposure to exports is small. Further, these companies' margins in the June quarter were as per expectations. Some analysts were worried that companies might not be able to maintain high margins.

This week, the BSE Capital Goods index saw only marginal gains after declining for five straight weeks, during which period the index had fallen nearly 8%. Shares of PTC Industries, Praj Industries, and Astral were the worst hit, down 7-9% this week, while shares of Kaynes Technology India and Bharat Dynamics, and Siemens rose 4-5%.

Among major earnings, Hindustan Aeronautics reported its June quarter earnings Tuesday. Its net profit during the quarter beat expectations but its revenue was marginally below estimates. Analysts were largely positive on the company managing to beat expectations on margin, strong order book, and hopes of better execution.

"After facing delays in execution in Tejas Mk1A contract due to GE-404 engine delivery issues, execution is expected to pick up further in the coming quarters led by restoration of engine deliveries for LCA Tejas Mk1, pick-up in production of ALH helicopters and capacity expansion across portfolio," ICICI Securities said in a note Wednesday. The brokerage has a 'buy' rating on the stock with target price at INR 6,100 per share. On Thursday, shares of HAL closed at INR 4,555.10.

TOP HEADLINES

* Engineers India signs MoU with Nuclear Power Corp for small modular reactor
* Thermax to buy remaining 23.03% stake in arm Thermax Bioenergy Solutions
* Godrej Industries to set up Godrej FS to offer financial services
* L&T arm, Japanese co ITOCHU ink pact for green ammonia project in Gujarat
* RVNL gets letter of acceptance for INR 900-mln project from Southern Railway
* Engineers India Apr-Jun PAT rises 27.9% YoY to INR 700.81 million
* Godrej Industries Apr-Jun consol PAT rises 8.3% YoY to INR 3.49 billion
* AIA Engg Apr-Jun consol PAT rises 17.5% YoY to INR 3.05 billion
* Thermax in pact with Norway-based HydrogenPro ASA for alkaline electrolysers
* Analyst Concall: Suzlon sees no slowdown in order inflows for few years
* Elgi Equipments Q1 consol net profit rises nearly 18% YoY to INR 856 mln
* Analyst Concall: Rail Vikas eyes overseas orders worth INR 300 bln-350 bln
* Earnings Review: Suzlon Energy revenue up 55% on year but misses Street view
* Rattanindia Enterprises Q1 consol PAT declines 41% YoY as sales fall 7.3%
* Titagarh Rail Q1 consol net profit halves on year, on qtr to INR 308.6 mln
* Earnings Review: Ashoka Buildcon Q1 PAT, revenue miss Street's view
* Ashoka Buildcon Apr-Jun PAT falls 25% YoY, sales fall 30.2%
* Astral to acquire 80% stake in Nexelon Chem for up to INR 1.20 bln
* BEML bags order worth INR 18.88 bln for Linke-Hofmann-Busch coaches
* KNR Constructions Apr-Jun PAT falls 61.7% YoY as sales fall 45.1%
* Earnings Review: Plumbing segment pulls Astral's Q1 PAT, sales down on year
* Praj Industries Apr-Jun consol PAT falls 93.7% YoY as sales fall 8.4%
* BEML net loss falls to INR 639.1 mln in Apr-Jun from INR 700.3 mln year ago
* L&T bags over INR 150-bln contract, to set up 6,400-MW thermal power units
* BEML bags $1 million contract from Malaysia under rail, metro segment
* Earnings Review: Siemens net profit falls for second time in row in Apr-Jun
* Analyst Concall: Voltas bets on festive demand, FY27 summer to clear stocks
* Earnings Review: Mild summer, early monsoon hit Voltas' Q1 consol PAT, sales
* Action Construction Apr-Jun consol sales down 11 on year but PAT up 16%
* PTC Industries Apr-Jun consol PAT rises 5.3% YoY to INR 51.56 million
* Analyst Concall: CPCB IV+ generator prices settling in mkts - Cummins India

Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

End

Reported by Anshul Choudhary

Edited by Avishek Dutta

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