Axis Securities research report on Capital Goods Sector. Key takeaways from our interactions with industry laterals at Elecrama, one of the world’s largest expositions of electrical equipment, which showcased products from 1,000+ companies:Unlike in Elecrama 2014, none of the companies raised concerns over slower pace of orders or pricing pressure or Chinese competition. Most believe T&D market has bottomed out and renewables is the new growth driver.It seems most companies have geared themselves towards new industry normal by aggressively rationalizing costs through indigenization. For eg. An MNC in 2014 had highlighted that its 220 kV GIS had 20% localization, which now it claimsis 80% Automation, SMART meters are expected to be emerging growth areas with distribution capex set to take off post ‘UDAY’ reforms.more infomationCapGoodsSector_AxisSec_Feb25-2016
Source:Moneycontrol
