CG Power’s FY28 earnings estimate was upgraded 10% by IIFL’s senior research analyst Renu Baid Pugalia, setting a new target price of ₹1,000 per share. The lift reflects a more optimistic view on domestic grid‑equipment sales and growing export opportunities, particularly in data‑centre markets.
BHEL’s outlook was also revised upward, with IIFL raising FY28‑FY29 estimates by 20‑25%. Pugalia noted that the company’s earnings beat was better than market expectations, yet cautioned that softer order inflows and selective thermal‑power deals could temper near‑term growth.
L&T is positioned as a defensive large‑cap pick; IIFL forecasts core‑business order inflows to grow over 20% and projects margin improvement in the second half of the fiscal year, after a relatively soft first quarter.
ABB India’s order book is expected to grow 35% YoY, driven by industrial‑motor and motion‑product demand. IIFL anticipates a potentially better‑than‑expected performance as data‑centre electrification ramps up.
Overall, the research note signals that power‑equipment manufacturers are poised to benefit from a strengthening order pipeline, with earnings estimates moving higher across the sector.