Sound order books

The first sign of recovery in the manufacturing space is to do with movement in the capital goods sector. Order books of companies have started to grow at over 15 per cent and the action is visible in the power generation, railways and roads sector. The upswing has also made select stocks in these sectors gaining. The three big players in this space—Bharat Heavy Electrical Ltd. (BHEL), Larsen & Toubro and BEML (formerly known as Bharat Earth Movers Limited) have gained the bulk of the orders. While none of the three stocks had much to cheer last year, the order revival could just be the antidote needed for stock prices to go up.

olmdesk@outlookindia.com