5 Engineering Stocks You Can Buy Next Week
Markets have been trading range bound for the last few weeks. The next big event for the markets would be the Union Budget 2023.
Here are some stocks that are recommended as a " buy" by Emkay Global. Stocks to buy from the engineering space
Target price Action Construction 318 345 HG Infra 662 820 Kalpataru Power 517 615 KEC 48 HG Infra 662 820 Kalpataru Power 517 615 KEC 485. 7 505 L&T 2153 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 2215 22155. 7 505 L&T 2153 2215
Decent orders
According to Emkay Global, after slow ordering during Oct-Nov ' 22, the sector has managed to end 3 QFY 23 with a decent 20% YoY growth and 14% 4- yr CAGR in ordering.
Ex Roads, awards saw 19 % growth on 4- yr CAGR basis. Importantly, poor awarding in the Roads sector continued in 3 QFY 23 as well.
" Power ( both, generation and T&D sub segments), Water supply, Irrigation and Railways remained the key sectors of growth.
Momentum in orders sustains
Power T&D,, it clocked at 30% and, hence, Dec- 22 saw decent improvement," the brokerage has said.
Stocks from the engineering space that are top picks of Emkay Global
"We maintain our positive view on Larsen and Toubro ( Target price: Rs 2,215 per share), KEC ( Target price: Rs 505 per share), KPTL ( Target price: Rs 615 per share), ACE ( Target price: Rs 345 per share) and HG Infra ( Target price: Rs 820).
per share Overall, driven by its strong tender pipeline softening commodity prices and expectation of good order inflow growth," the brokerage has said.
By Sunil Fernandes Goodreturns source: goodreturns.in Dailyhunt