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Informist, Friday, Aug. 14, 2026

 

MUMBAI – Shares of capital goods companies are seen trading in a range amid high valuations and margin risks from high crude oil prices. However, prospects for earnings growth, supported by strong order books and buying interest from foreign investors, are likely to limit downside for stocks.

 

Companies have faced margin pressure during the June quarter owing to high prices of input commodities with several companies reporting lower margins. However, strong revenue growth and cost-cutting measures helped companies beat expectations on net profit. The combined net profit of the 19 capital goods companies in the Nifty 200 index, for which earnings estimates were available, rose nearly 29% on year, higher than analysts' expectations of 25%.

 

Despite better-than-expected results, capital goods stocks may not see any big gains in near term as the US-Iran war may push the Indian government to control spending. "Government spending may cool in the next few months, as fiscal headroom looks constrained by Middle East tensions," HSBC said in a report. For the June quarter, the government has spent INR 3.40 trillion on capital expenditure, up nearly 24% on year.

 

The BSE Capital Goods index has gained nearly 4% in two weeks as tensions in West Asia eased. However, the index is still down 5.5% from its lifetime high touched in June.

 

TOP HEADLINES

 

* Kalpataru Projects secures orders worth INR 35.26 bln across segments
* Transformers and Rectifiers gets INR 1 bln-INR 5-bln orders
* Engineers India Apr-Jun sales fall 7% YoY but PAT rises 55%
* Earnings Review: KNR Constructions PAT up sixfold on one-time income
* Earnings Review: Praj Industries Q1 PAT rises twofold YoY, beats Street view
* Elgi Equipments Apr-Jun consol PAT rises 20.7% YoY to INR 1.03 billion
* Ashoka Buildcon gets order worth INR 1.27 bln from REC Power Development
* BHEL, Hyster AS ink pact to make proton exchange membrane electrolysers
* Tega Industries posts INR-861.89-mln consol loss in Apr-Jun vs PAT year ago
* L&T gets mega order to build India's largest NVIDIA B300 AI factory
* Earnings Review: SKF India PAT down 48% YoY on high base, misses view
* Earnings Review: Robust sales take Titagarh Rail to profit vs loss yr ago
* Analyst Concall: AIA Engg sees opportunity in S America on falling mine yld
* IRCON Intl Apr-Jun PAT rises 8.6% YoY to INR 1.64 billion
* Analyst Concall: Ashoka Buildcon lowers FY27 EBITDA margin guidance to 9-9.5%
* Earnings Review: AIA Engg Apr-Jun consol PAT falls 1.3% YoY to INR 3.01 bln
* EID Parry Apr-Jun consol PAT falls 42.5% YoY to INR 1.42 billion
* Ashoka Buildcon Apr-Jun EBITDA falls 17% YoY to INR 1.26 bln
* Earnings Review: Ashoka Buildcon Q1 net profit rises 3?spite revenue fall
* SKF India Industrial Apr-Jun net profit falls 14% on year to INR 619 mln
* TD Power board to meet Friday to mull raising funds via equity, debt
* Analyst Concall: Aim to win oil, gas projects in W Asia - Kalpataru Projects
* BEML bags order worth INR 1.84 bln from HAL to make helicopter fuselage
* Earnings Outlook: Strong 2-wheeler sales to boost Sansera Engineering Q1 PAT
* L&T to transfer data centre, cloud business to arm Vyoma.AI for INR 14 bln
* TD Power Systems Apr-Jun consol PAT rises 72.3% YoY to INR 862.93 million
* Earnings Review: Siemens Q1 PAT up on asset sale gain but input costs weigh
* Earnings Review: Kalpataru Projects Q1 PAT up 32% on years, beats estimate
* Isgec Heavy Apr-Jun consol PAT rises 29.1% YoY to INR 89.5 million
* Skipper Apr-Jun consol PAT rises 25.5% YoY to INR 568.14 million
* Analyst Concall: KEC International facing project delays due to W Asia war
* Earnings Review: KEC Intl Q1 PAT sharply dn on higher expenses; revenue unch
* Patel Engg Apr-Jun consol PAT rises 21.7% YoY to INR 985.03 million
* Analsyt Concall: Carborundum to stay put in Russia despite US sanctions
* Power Mech Projects Apr-Jun consol PAT rises 52% YoY to INR 797.8 million
* Shaily Engineering Apr-Jun consol PAT rises 16.8% YoY to INR 480.1 million
* Maharashtra Seamless Apr-Jun consol sales fall 5% YoY but PAT rises 16%
* IPO Alert: Ardee Industries IPO bidding ends with 134 times subscription
* Earnings Review: Carborundum Q1 sales, PAT up on broad-based growth
* IPO Alert: Laxyo gets SEBI nod for IPO of INR 1.50-bln fresh issue
* Schaeffler India appoints Amit Bhalerao as chief operating officer from Mon
* Electrosteel Castings Apr-Jun consol PAT down 46% on year as sales fall 8%

 

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:

 

Company	Price	Week-on-week change in %	Resistance	Support
Bharat Heavy Electricals	421.70	4.10	436.20	409.30
CG Power and Industrial Solutions	890.15	1.30	901.30	872.60
Larsen & Toubro	4,057.00	0.00	4,093.60	4,014.80
Siemens	3,940.00	0.00	4,100.00	3,844.00
Thermax	4,044.90	(-)0.40	4,141.20	3,885.80
Bharat Electronics	410.80	2.40	414.80	406.30
Index	Levels
S&P BSE Capital Goods	80120.02	1.10	80734.20	79462.70
Nifty 50	24366.00	(-)0.80	24464.40	24247.60
S&P BSE Sensex	78009.25	(-)0.60	78278.70	77549.60

 

End

 

Reported by Anshul Choudhary

Edited by Saji George Titus

 

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