Observed earnings upgrades for ABB, Siemens, Cummins over past 6 months: Credit Suisse

Credit Suisse has come out with a note on India's capital goods sector. Order inflow and cyclical revenues for machinery and consumables have seen a modest uptick. Moreover, the momentum needs to strengthen to keep pace with cyclical expectations, Credit Suisse noted.

When it comes to stocks specifically, with the names of ABB, Siemens, and Cummins India, Credit Suisse said it has seen upgrades coming through and that it retains its positive stance on these companies based on cyclical expectations as well as attractive valuations.

On Voltas, the earnings projections remains ‘neutral’ -- also the reason Credit Suisse remain neutral on the stock.

As far as Thermax is concerned, Credit Suisse has actually downgraded that stock to ‘neutral’ considering the sharp up-move that Thermax has seen.

On the whole, Credit Suisse is suggesting that there has been a positive movement, even a small one but a positive.