Jefferies said its top stock picks among engineering and construction companies are Hindustan Aeronautics, Siemens, Larsen & Toubro and KEI Industries.
The brokerage said the order flow of companies in these segments rose by 28% in FY25, led by HAL and Siemens.
“Operating leverage was seen for most companies led by defence stocks, which should continue to play out in FY26,” said Jefferies in a note. “Power and defence continue to have high visibility ahead and railways outlook has improved.”
The brokerage said the order flow of companies in these segments rose by 28% in FY25, led by HAL and Siemens.
“Operating leverage was seen for most companies led by defence stocks, which should continue to play out in FY26,” said Jefferies in a note. “Power and defence continue to have high visibility ahead and railways outlook has improved.”
