India headed for capex revival, $360 billion in orders – BofA
Around 11 to 20 per cent growth is expected in the Industrial sector
By : DC Correspondent
Update: 2014-11-19 13:48 GMT
Mumbai: Bank of America Merrill Lynch expects capex revival for India. Cites pent-up demand, governments focus to ease bottlenecks as key factors. Says expect $360 billion in orders over FY15-17 translating into a ‘robust’ 11-20 per cent growth for the industrials sector.
Keeps 'buy' on Larsen & Toubro, Crompton Greaves, Bharat Electronics and Voltas. Keeps 'underperfrom' on Bharat Heavy Electricals, ABB India, Cummins India and Siemens India.