Antique Stock Broking has identified the railway, defense, and industrial sectors as promising multi-year investment arenas, despite a surge in their valuations due to an expanding order book. The firm anticipates a 15% and 19% expansion in revenue and earnings, respectively, for railway equipment and EPC companies over FY23–26E.
The firm also highlighted the government's strategy to increase capital expenditure while managing revenue expenditure for deficit control. A significant uptick in power sector capex was recognized as a key driver of infrastructure growth.
Preferred stocks listed by the firm include Titagarh Rail Systems Ltd, RITES Ltd, and IRCON International Ltd in the railways sector; Hindustan Aeronautics (HAL), Bharat Dynamics Ltd in defense; and Larsen & Toubro (L&T), Siemens, BHEL, Hitachi (OTC:HTHIY) Energy, Kirloskar Oil Engines in industrials.
Additionally, Antique Stock Broking underscored the potential of technology industrials companies such as Siemens, CG Power, Honeywell (NASDAQ:HON) Automation, ABB, and Linde (NYSE:LIN) India. The firm also noted the influence of Production Linked Incentive (PLI) schemes and other initiatives on localization across various sectors.
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