Not anymore - thanks to hopes that Narendra Modi on becoming Prime Minister, will unleash a new development agenda and push growth of the sector and these stocks.
Take a look at the stock of Infrastructure major NCC. The stock has moved up from Rs 18 in Sept 2013 to Rs 44 currently - a whopping 150 per cent gain in eight months.
The Tata owned capital goods major Voltas has doubled from September lows of Rs 77 to the current levels of Rs 166. Similarly, Crompton Greaves has rallied to Rs 188 from levels of Rs 82 in September. The stock of IRB Infra has also doubled in value in the last nine months.
Bhel, Siemens and various other stocks from the sector are also classic examples of stocks running up sharply on hopes of a new government pushing the growth agenda.
If you have missed buying these stocks, than it may not be a good idea to enter these stocks at the current levels.
About 2-3 months back, investors were buying into IT stocks like there was no tomorrow. Today, IT stocks have lost 15-20 per cent since their highs. It's highly possible that if you enter infra and capital goods stocks now, it could be a trap, to buy them at such high prices.
It's best to wait for the next government to see if it's a stable government and want kind of push it can provide to the economy. After all, there is no person in the world, who has a magic wand to solve all problems at one go. There might be a possibility that you could get to buy these stocks at much lower levels.