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