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Why we are avoiding even bluechip capital goods stocks now

May 15, 2020 / 06:11 PM IST
Why we are avoiding even bluechip capital goods stocks now

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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 - ABB and Siemens reported lower revenue led by lockdown in March quarter - Margins fell significantly due to lower revenue and relatively higher cost - Earnings to fall further in coming quarters as a result of full impact of lockdown - Current valuations offer little room for error Capital goods and engineering is an interesting area to watch in the current crisis. Investors would eagerly wait for the results of companies in this sector and management commentary, particularly from the larger ones, to understand...

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