For Quick Alerts
For Daily Alerts

Capital goods stocks rally on strong IIP data

 Capital goods stocks rally on strong IIP data
Bharat Heavy Electricals: Quotes, News
BSE 63.60BSE Quote0.35 (-0.55%)
NSE 63.70NSE Quote0.3 (-0.47%)
Shares of companies engaged in the capital goods space rallied in trade today after the July Index for Industrial Production (IIP) showed a jump of 15% for the sector.

Leading the pack were Bharat Heavy Electricals whose shares jumped 3.34%, while other notable gainers included Siemens, Crompton Greaves and Voltas.

Capital goods stocks have over the last one year underperformed the markets, thanks to a slowdown and sluggish demand across products. Worst affected have been those catering to the power sector, as a slowdown of the sector has affected growth.

Analysts are not sure if the growth rate recorded by the sector for the month of July would be sustainable or this is merely a flash in the pan.

Story first published: Friday, September 13, 2013, 10:50 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more