PL Capital upgrades Hitachi Energy, Thermax to Buy
In short
PL Capital’s Amit Anwani upgraded Hitachi Energy India and Thermax to ‘Buy’. He also said L&T could do better than its guidance and kept Bharat Electronics as a preferred defence stock.
The call may support these shares, while he warned that some industrial machinery firms could face margin pressure near term.
What the reporting says
PL Capital’s Amit Anwani upgraded Hitachi Energy India and Thermax to 'Buy' and stayed positive on L&T and Bharat Electronics. He said L&T may outperform its guidance and kept Bharat Electronics as a preferred defence stock. He also flagged near-term margin pressure for some industrial machinery companies, while expecting profitability to improve in the fourth quarter.
Why it matters
Amit Anwani of PL Capital raised his view on Hitachi Energy India and Thermax to 'Buy' and remained constructive on L&T and Bharat Electronics. He also pointed to near-term margin pressure in some industrial machinery companies, but said profitability should improve in the fourth quarter. The note is relevant for industrial and defence-linked stocks.