SP Tulsian cautious on ABB, Siemens, Crompton Greaves

SP Tulsian of sptulsian.com is cautious on ABB, Siemens and Crompton Greaves. He feels overall the situation has really being very bad for capital good industry

Tulsian told CNBC-TV18, “I was keeping the positive stance on one capital goods that is BHEL. In fact, Larsen and Turbo (L&T) can’t get included in that category because L&T is more of a construction giant.”
He further added, “ABB and Siemens both were not looking great at all. Maybe people have started taking a call on Crompton Greaves having bottomed out but I am keeping cautious stance on the company as well for the next couple of quarter or so. I don’t see that pain has gone out. Overall the situation has really being very bad for capital good industry. Maybe Siemens and ABB, both have been trying to keep their top-line on which they have to compromise the margins to a great extent. If one excludes the write back of tax amount the Siemens' PAT is just Rs 20 crore so it does not make an difference whether the estimate fall from Rs 165 to Rs 30 or Rs 165 to Rs 20. Yes things are really looking bad and we don’t see any hopes of any revival in next couple of quarters. I will keep cautious stance on all three, ABB, Siemens and Crompton Greaves going forward.”