L&T, BHEL may continue to fall further: Diwan

L&T and BHEL may continue to fall further from current levels, says Prakash Diwan, Asit C Mehta Investment Intermediates.

Diwan told CNBC-TV18, "Capital goods is a segment where a lot of us are waiting with in terms of, now that the interest rate cycle also seems to have definitively peaked and there will be a pause. But the order flow is something that is yet kind of circumspect. Given the fact that again the government is going to continue running these steps, I am not too sure whether we have headroom for any quick growth as far as capital goods are concerned. So there would be seen some sort of sell off. There is a lot of counters like L&T and BHEL where there is a lot of selling and still pending from the FII side. So I think these counters could probably see some more hammering than continuing losing down even further."