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Informist, Friday, Dec. 26, 2025

 

MUMBAI – Shares of capital goods companies may rise slightly next week on optimism around the Union Budget for 2026-27 (Apr-Mar). However, high stock valuations will continue to limit any upside in most stocks in the sector.

 

Railway stocks have already witnessed sharp buying ahead of the Budget. This week, shares of Rail Vikas Nigam, Indian Railway Finance Corp., Ircon International, and Titagarh Rail Systems were up 14-22%. Media reports said that market partcipants are positioning for higher capital expenditure on rail infrastructure, rolling stock expansion, and network modernisation.

 

Analysts were also positive on solar energy equipment makers in the medium term on expectations of strong demand. "Domestic installed solar capacity (AC) is expected to jump from 106GW in FY25 to 290GW by FY30E, growth will be driven by utility-scale additions, government initiatives, as well as rising captive industrial demand," brokerage Prabhudas Lilladher said. 

 

Overall, analysts are divided over the sector with some concerned about high valuations and slowdown in capital expenditure from the government which may hit orderbooks of companies. There are other analysts who said current order book is enough for several companies to keep growing for 2-3 years. In the near term, any significant movement in capital goods stocks will depend on developments around the Budget and capital expenditure from private players.    

 

TOP HEADLINES

 

* KNR Constructions to sell 4 SPVs to Indus Infra Trust for INR 15.43 bln
* Mumbai Income Tax Appellate Tribunal rules in favour of Kalpataru Projects
* SEBI says Nov IPOs robust, 2nd-highest monthly resource mobilisation in FY26
* HDFC Mutual Fund lowers stake in KEC International  to 6.93% from 8.67%
* L&T wins 'significant' order for electrification of Mumbai metro line
* Complete Ashoka Buildcon debarment case within 2 weeks, HC tells NHAI
* L&T onshore ops gets major order for construction work at BPCL's MP refinery
* RITES gets order worth $35.2 mln from South Africa-based Ndalama Capital
* Patel Engg raises INR 3.99 bln via rights issue, allots 147.77 mln shrs
* Samvardhana Motherson arm to buy business, assets of 2 European cos
* Titagarh Rail rolls out first driverless trainset for Gujrat Metro
* India Ratings downgrades Reliance Infra bank loan facilities to IND C/IND A4
* RITES, Botswana govt in MoU to develop railway, transport infra in Botswana
* Non-compete fee payment is revenue expenditure, allowed for tax deduction:SC
 

 

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	281.50	2.10	289.90	272.80
CG Power and Industrial Solutions	656.00	(-)2.30	672.40	645.00
Larsen & Toubro	4047.30	(-)0.60	4077.60	4015.00
Siemens	3100.90	(-)0.30	3138.70	3069.50
Thermax	3012.40	5.00	3051.10	2944.30
Bharat Electronics	398.45	1.40	411.50	390.70
S&P BSE Capital Goods	67141.56	0.90	68483.50	66361.50
Nifty 50	26042.30	0.30	26200.60	25929.40
S&P BSE Sensex	85041.45	0.10	85560.00	84678.60

 

 

End

 

Reported by Anshul Choudhary

Edited by Vandana Hingorani

 

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