5 stocks in the Capital Goods sector you need to watch out for on September 8

5 stocks in the Capital Goods sector you need to watch out for on September 8

Indian Market
by 5paisa Research Team Last Updated: 2022-09-08T12:26:11+05:30

With a positive start to the day, S&P BSE Capital Goods sector is trading up by 0.6% at 33,423.72 while the frontline index the Sensex is trading at 59,522.59 with a gain of 0.84%. 

Let us see which stocks in the Capital Goods sector should be on the investor's radar.

Schneider Electric Infrastructure informed in a press release that the Board of Directors at their meeting held on September 6, 2022, have approved enhancing the production capacity of Vacuum Interrupters & Vacuum Circuit Breakers by setting up a manufacturing unit in Kolkata. With the existing capacity of 80k MV Vacuum Interrupters, the company intends to add 180k MV Vacuum Interrupters and MV Vacuum Circuit Breakers assembly lines at a capex of Rs 138 crore to be incurred over 3 years. At 11.10 am the shares of Schneider Electric were quoting Rs 161.50, up by 12.98 or Rs 18.55.

Sona BLW Precision Forgings Ltd (Sona Comstar), one of India's leading automotive technology companies, announced in a press release on September 07 that it has achieved the 1,00,000 EV traction motor production milestone, since the start of production in November 2020. The company’s R&D team designed the hub‐wheel and drive motors for electric two‐wheelers in‐house and the production was started in November 2020. At 11.10 am the shares of Sona BLW were quoting Rs 527.45, up by 0.10% or Rs 0.55.

Standard Chartered Bank (Singapore) has offloaded its stake in CG Power and Industrial Solutions. Standard Chartered Bank (Singapore) sold 1,38,45,000 equity shares in the company via open market transactions. These shares were sold at an average price of Rs 215 per share. At 11.10 am the shares of CG Power were quoting Rs 227, up by 3.53% or Rs 7.75.

Timken India Ltd is surging on the bourses, overwriting yesterday’s all-time high. Timken India logged its fresh all-time high on September 07 at Rs 3367.25. The shares of Timken had a dream rally on the bourses giving multibagger returns in the last one year of 106%. At 11.10 am, the shares of Timken India were quoting Rs 3413.80, up by 2.45% or Rs 81.60 per share.

Another industrial equipment company that is rising fast on the bourses is Bharat Heavy Electricals Ltd (BHEL). The shares of BHEL are currently trading at Rs 63 a piece. In the last month, the stock has risen 22% on the back of the positive sentiment on infrastructure spending in the country.

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