Equity Analysis /
India

IN : Industrial - Overall - 1QFY23F results preview

    CGS-CIMB
    12 July 2022
    Published byCGS-CIMB

    We expect strong sales execution on an aggregate basis on a low base, pick-up in execution, improved opening order backlog, and firm pricing action. New investments (as per CMIE) and government expenditure show an upward capex trajectory. Order inflow momentum is likely to be steady. We remain Neutral on the sector with our preferred stocks being L&T, Cummins India, and Schaeffler.