Capital goods cos seen up as US committee OKs N-deal
Wednesday, Sep 24
Shares of capital goods companies like Bharat Heavy Electricals,
Areva T&D India and Alstom Projects are seen opening flat to slightly
up as U.S. Senate Foreign Relations Committee passed the India-U.S.
civilian nuclear deal by 19 votes to 2 Tuesday.
Some short covering can be expected in these counters ahead of
September futures expiry (Thursday) because of this news.
Any upside will be limited as the deal still needs some more
approvals, and gains in the stocks will be determined after that.
The news may lend support to these counters, among others like
Larsen & Toubro, ABB and Siemens, and some power shares like Tata
Power Co and NTPC.
I would not recommend buying any of the stocks right now though
before settlement is over.
B.Karthick
Research Analyst.
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