Earnings growth trajectory for India’s capital goods firms is likely to stay buoyant for the December 2023-ended quarter (Q3 FY24), said analysts. Guidance on margins, ordering activity in an election year and export-related demand would be key monitorables. Brokerages – Motilal Oswal, Nuvama, Kotak Institutional Equities and Prabhudas Lilladher – estimated revenue growth for their capital goods universe to be 11-16 per cent year-on-year (Y-o-Y).
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