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Railway Engineering Sector: Short-term volatility to provide good long-term opportunity

Railways engineering stock could moderate after recent run up in share prices; use volatility to invest for the long term

December 12, 2022 / 10:48 AM IST
Railway Engineering Sector: Short-term volatility to provide good long-term opportunity

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PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights Recent rally well supported by improving fundamentals Execution, crossing pre-COVID period, at all-time high Margins and scale to improve in the second half of current fiscal Strong order book to support growth in revenue and earnings Valuations reasonable from long-term perspective Companies in the railway engineering space, particularly PSUs, have benefited because of the significant re-rating on improving fundamentals and valuations. In about 3-4 months, these stocks have turned from underperformers to outperformers. We have been highlighting these companies, like RITES, IRCON and RVNL,...

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