New set of exporters emerging from India? 5 stocks from engineering sector with an upside potential of up to 33%
It has been a long time that engineering major L&T has ventured into exports of engineering services to the Middle East, then it moved into exports of engineering goods. Over the years, there are companies, who specialize in some industries who also have been able to get an entry into the export market. Getting into the export market is not easy and it takes years to get into the market for two reasons. First, global companies tend to be very aggressive in bidding so that new competition does not come in. Second, Indian companies which are sort of a crossover of engineering and capital goods, required the ability to sustain these attempts to get into the esports market at a time when domestic demand was very poor. Now in the last few years, things have improved on the domestic demand and hence these companies were able to put their foot forward into the export market. Will these companies become a new set of exporters from India?