1. India headed for capex revival, $360 bn in orders: BofA

India headed for capex revival, $360 bn in orders: BofA

BofA-ML says $360 bn in orders are expected over FY15-17 translating into a 'robust' 11-20 pct growth for industrial sector.

By: | Published: November 19, 2014 4:33 PM

Bank of America Merrill Lynch expects capex revival for India, citing pent-up demand, governments focus to ease bottlenecks as key factors.

BofA-ML says $360 billion in orders are expected over FY15-17 translating into a “robust” 11-20 pct growth for the industrial sector.

BofA also keeps “buy” rating on Larsen & Toubro, Crompton Greaves , Bharat Electronics, and Voltas  and “underperfrom” on Bharat Heavy Electricals, ABB India, Cummins India, and Siemens India . * Maintains “neutral” on Thermax.

Tags: BofA-ML
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