The Hindu Business Line : Power equipment stocks stage a comeback

POWER equipment stocks have been inching ahead on the back of good order book position and a bright business environment. After a brief correction, these stocks are back on the uptrend. BHEL, Siemens, ABB and Crompton Greaves rose sharply on Friday.

Also, other engineering stocks such as Ingersoll Rand, Cummins, Alfa Laval, Bharat Electronics and BEML staged a comeback, after witnessing some profit-booking.

Select stocks such as Flex Engg, Best & Crompton, Fem Care Pharma, Tata Finance, Tata Tele, India Cements and India Online Networks have been edging up consistently. India Cements has been active after debt restructuring.

UTI Bank and Centurion Bank witnessed some profit-booking in the last few trading sessions. These stocks had gained close to 60 per cent with a month.

i-flex solutions slid almost 10 per cent after it announced its earnings. The lower growth rates recorded compared with past performance dampened the sentiment in the stock. Other tech stocks such as Infosys, Satyam, Wipro too witnessed some profit-booking after a brief rally earlier.

Commercial vehicle manufacturers Tata Motors and Ashok Leyland, too, were upbeat after they projected good sales growth and fresh investments in new models.

Tata Power, Tata Coffee, Tata Chemicals, Apollo Tyres, Gujarat Ambuja Cements, SAIL, Shipping Corporation, HPCL and GE Shipping were few other stocks that sizzled.

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