IANS | 11 Apr, 2024
The industrial sector is likely to report a healthy quarterly
performance for 4QFY24 driven by a healthy opening order book, continued
execution momentum and healthy demand.
"Ordering activity, by
central government on sectors such as defence, roads, rail/metro-rail,
power T&D etc and from private sector (data centres, renewables,
real estate and process industries like steel and cement) is likely to
continue its momentum, thereby driving order inflows," JM Financial
Institutional Securities said.
“We continue to remain positive on
the sector mainly, factoring in continued push by the government on
infrastructure development and making India a manufacturing hub,” the
research said.
“We continue to maintain our positive stance on the
sector given government-led infrastructure capex, PLI scheme-led capex
in multiple sectors and pick up in private sector capex (renewables,
data centres, cement, steel,),” the brokerage said.
BEL
provisional number for FY24 indicates a revenue growth of 30 per cent
YoY for 4QFY24 driven by strong opening order book (Rs 762 billion) and
is also aided by revenue spill of over Rs 4-5 billion from 3Q to 4QFY24.
BEL continued to report healthy order inflows and reported order
inflows of Rs 78 billion in 4Q, the brokerage said.
