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Informist, Friday, Nov. 14, 2025

MUMBAI – Capital goods stocks are seen moving in a range next week amid high valuations and given the risk of slower order inflows. There is also a possibility of profit sales in these stocks next week.

The BSE Capital Goods index has given muted returns so far this year owing to its high valuation. The sectoral index is up just over 4% this year. The Sensex has offered more than 8% return so far.

Slower order inflows could be an issue for companies in upcoming quarters as the government may change its focus to driving consumption. This was visible in the September quarter when several companies saw a slowdown in order wins.

KNR Constructions Ltd., which reported its earnings Wednesday, saw its order book decline more than 1% from the trailing quarter. Its order book had grown 64% sequentially in the June quarter and nearly 30% in the March quarter.

"Management called this one of the worst downcycles in a decade, with both NHAI (National Highways Authority of India) and state awarding stalled," IDBI Capital said in a report Friday. "Management guided for order inflows of Rs80–100bn (INR 80 billion to INR 100 billion) in H2 FY26 (Oct-Mar) but expects execution pickup only from FY27."

This slowdown was also visible for Hindustan Aeronautics Ltd., which reported its quarterly results Wednesday. "...the pace of F404 engine deliveries from GE remains a concern, with HAL receiving only four out of twelve engines committed for the year," Prabhudas Lilladher said in a report.

TOP HEADLINES

* World Bank removes Transformers and Rectifiers from debarred list of firms
* Titagarh Rail Jul-Sept consol PAT falls 54% YoY, sales fall 24%
* PTC Industries Jul-Sept consol PAT rises nearly 5% YoY to INR 181.38 million
* Isgec Heavy Engg Jul-Sept consol PAT falls 53% YoY to INR 439.5 million
* Earnings Review: Early monsoon, GST cut weigh on Voltas Q2 consol sales, PAT
* Earnings Review: Samvardhana Q2 PAT down YoY on high base, beats mkt view
* Patel Engineering Jul-Sept consol PAT falls marginally YoY to INR 730 mln
* Elgi Equipments Jul-Sept consol PAT rises 28.2% YoY to INR 1.21 billion
* KNR Constructions Jul-Sept net profit tumbles 92% YoY as sales fall over 44%
* IRCON Intl Jul-Sept PAT falls 8.7% YoY as sales down 19.5%
* RITES wins INR-520-mln project from Cochin International Airport
* Varroc Engg Jul-Sept consol net profit rises 9.5% YoY to INR 609.51 million
* Reliance Infra Jul-Sept consolidated PAT plunges 53% YoY, sales fall 14%
* Earnings Review: Thermax Q2 PAT, sales down YoY; miss Street estimates
* Kirloskar Oil Jul-Sept consol PAT rises 27.4% YoY to INR 1.62 billion
* Thermax's Jul-Sept consol PAT falls nearly 40% on year as sales fall over 5%
* KSB Jul-Sept consol PAT rises 9.4% YoY to INR 675 million
* Texmaco Rail Jul-Sept PAT rises 27.6% YoY to INR 618.17 million
* RITES Jul-Sept net profit rises 19% on year to INR 1.02 billion
* EID Parry Jul-Sept consol PAT rises 40% YoY to INR 4.24 bln. sales up 25%
* Earnings Review: KEC Intl Q2 consol PAT surges but misses Street view
* KEC Intl Jul-Sept consol PAT rises 88.2% YoY to INR 1.61 billion
* Syrma SGS to acquire 60% stake in Elcome Integrated Systems for INR 2.35 bln
* Power Mech Projects Jul-Sept consol PAT up nearly 12% YoY at INR 749.2 mln
* Syrma SGS Technology Jul-Sept consol PAT rises 77% YoY to INR 640.6 mln
* Electrosteel Castings Jul-Sept consol PAT falls 50% YoY, sales dn almost 24%
* Transformers and Rectifiers bags INR 1.03-bln order from Gujarat Energy
* Transformers and Rectifiers Q2 consol PAT falls 25% on year, sales tad down
* Ashoka Buildcon gets letter of acceptance for INR-5.39-bln project
* AIA Engg Jul-Sept consol PAT rises 8% YoY to INR 2.77 billion
 

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

End

Reported by Anshul Choudhary

Edited by Rajeev Pai

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