More Stories

Informist, Friday, Apr. 24, 2026

MUMBAI – Shares of capital goods companies are likely to move in range next week with the possibility of selling pressure after weeks of gains. Shares of capital goods have gained recently amid ceasefire announcement by the US and Iran, but disruptions due to the war may lead to higher cost for companies, analysts said.

"There is possibility of some hit to margins in Q4, but large part of the impact will come in Q1," an analyst covering the sector for a large foreign brokerage said. "This (margin hit) is an issue as Q1 is usually execution heavy." His conversation with companies don't suggest there will be any major setback in order wins, but higher cost could hit earnings in the coming quarters.

Talking about the sector major Larsen & Tourbo, the analyst said the company will be affected from the US-Iran war. "Its margins (for FY26) which were expected at 8.5%, will likely came at 8.25-8.30%." This has been a concern for market participants as the stock has fallen more than 6% since the war began.

High oil prices due to the Strait of Hormuz being shut has raised concerns about the Indian economy, which is highly dependent on imported oil for energy. Analysts said the government may have to cut capital expenditure to find funds to support key industries such as fertilisers.

"As disruption persists, the impact shifts from predominantly first-order effects (spot price moves and immediate availability risk) to second-order effects (delivered-cost inflation, longer transit times, risk insurance, tanker constraints, inventory rebalancing and working-capital build-up) and increasingly third-order effects," Crisil said in a report on Friday. "These third-order effects manifest as higher economy-wide fuel and input inflation, which can trigger policy interventions and demand moderation (downtrading, postponement of discretionary purchases and deferred capital expenditures)."

TOP HEADLINES

* Ashoka Buildcon gets $72.36 mln contract from Angola govt
* L&T enters industrial electronics segment with mfg campus in Tamil Nadu
* Patel Engg lowest bidder for INR 15.93-bln hydropower project in Nepal
* L&T's buildings, factories business gets 'significant' orders in Haryana
* Abbott India Director Alison Davies resigns; board set for major overhaul
* L&T arm inks long-term pact with Japan's ITOCHU to supply green ammonia
* Defence min signs INR 9.75-bln contracts for anti-mine equipment for tanks
* Transformers and Rectifiers Jan-Mar consol PAT falls 5.2% YoY to INR 893 mln
* BEML gets INR-6-bln order from defence ministry to supply trawl assemblies
* AIA Engineering appoints MD Bhadresh Kantilal Shah as chairman effective Tue
* Tega Industries incorporates arm for management consultancy services
* Texmaco Rail receives INR 30.6-mln order to supply bogie frame assembly
* BHEL says turnover in FY26 rose 18% on year to INR 323.50 billion
* BHEL files case to recover INR 1.4 bln for Yeramaras thermal project
* BHEL withdraws accepted letter of intent from MB Power on inconclusive talks

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 Akul Nishant Akhoury

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.