Capital Goods Stocks Outlook
Cable cos seen up on likely strong Q2 results
This story was originally published at 18:16 IST on 10 October 2025
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MUMBAI – Shares of cable and wire makers are likely to rise next week, on hopes of strong earnings growth in the September quarter. Two major cable-makers KEI Industries and Polycab India are scheduled to report their earnings on Wednesday and Friday, respectively.
Cable-makers are expected to report a strong growth in earnings in Jul-Sept, backed by sales growth and higher prices. Companies raised prices to offset the impact of higher cost of copper. Prices of copper, a key raw material for cable makers, touched record highs recently, owing to fears of a global supply deficit. Brokerages said companies have managed to pass on the higher cost to customers successfully.
KEI Industries is expected to report a 31% year-on-year rise in net profit to INR 2.03 billion and a 20% rise in revenue to INR 27.44 billion, according to an average of estimates by six brokerages. Polycab India is likely to do even better on profitability with its consolidated net profit expected to rise over 41% on year to INR 6.22 billion, as per estimates by nine brokerages. The company's consolidated revenue is seen at INR 65.08 billion, up 18% on year.
Brokerages are also positive on companies that manufacture machinery, infrastructure, and equipment necessary for transmission and distribution of electricity because of strong demand from data centres, electric-vehicle makers, and semiconductor companies. However, companies dependent on orders from private companies are expected to report muted earnings.
Data collected by Informist from nine brokerages shows 15 capital goods companies in the Nifty 200 index are expected to report a consolidated net profit growth of 28% on year during the September quarter. Revenue of the 15 companies is likely to rise 16% on year.
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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:
| Company | Price | Week-on-week change in % |
Resistance | Support |
| Bharat Heavy Electricals | 239.64 | (-)2.20 | 243.80 | 236.80 |
| CG Power and Industrial Solutions | 753.40 | 0.80 | 770.70 | 737.10 |
| Larsen & Toubro | 3784.00 | 1.40 | 3820.00 | 3742.00 |
| Siemens | 3147.40 | (-)0.50 | 3224.90 | 3101.30 |
| Thermax | 3223.80 | 1.10 | 3270.70 | 3139.30 |
| Bharat Electronics | 413.50 | 0.20 | 419.60 | 405.30 |
| S&P BSE Capital Goods | 69552.59 | 0.10 | 70262.20 | 68830.30 |
| Nifty 50 | 25285.35 | 1.60 | 25431.60 | 25083.80 |
| S&P BSE Sensex | 82500.82 | 1.60 | 82990.50 | 81828.10 |
End
Reported by Anshul Choudhary
Edited by Nishant Maher
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