Motilal Oswal sees 15–20% upside in L&T and BEL amid strong sector tailwinds

July 12, 2025

India’s capital goods sector is thriving, fueled by strong macro factors and sector-specific growth drivers. Defence, power, renewables, and infrastructure are witnessing robust order books, supported by government policies and easing commodity prices. Defence procurement and infrastructure projects are boosting order momentum.

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