Capital goods - first stirrings of hope

The capital-goods space is moving. Of particular note is the growth in the power-generation space, which saw the highest fresh investments in March 2016 and constituted 19 per cent of all fresh orders for the period between April 2015 - March 2016. The growth in fresh capital-goods orders continued in March as well, taking total order growth to 21 per cent (ttm, y-o-y). Power received the highest share of fresh orders in the last 12 months at 38 per cent, followed by railways and building and factories that both got 18 per cent and roads that cornered 13 per cent of fresh orders. Not all companies are winning orders though. Three dominant sector players are lapping up the majority of fresh orders. These are Bharat Heavy Electrical (