Top Capital Goods Stocks in India (2025)
The capital goods sector in India is a pivotal component of the nation’s industrial framework, contributing approximately 1.9% to the GDP and accounting for 12% of the manufacturing output. In May 2025, capital goods production surged by 14.1% year-on-year, indicating sustained demand and investment in infrastructure and industrial machinery.
Top Capital Goods Stocks
Monday, 15 September, 2025
| symbol | Company | ticker | slug | Sector | Market Price | 52W High | 52W Low | Market Cap (Cr.) | PE Ratio | Industry PE | PB Ratio | Div. Yield (%) | ROE (%) | 1YReturns | 3YReturns | 5YReturns | Market Cap Label | Industry Group | Industry | Sub Industry | percentageChange |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ADEL | Adani Enterprises Ltd | ADANIENT | /stocks/adani-enterprises-ADEL | Commodities Trading | 2,392.00 | 3,211.00 | 2,025.00 | 276,080.03 | 38.82 | 39.65 | 4.89 | 0.05 | 14.13 | -20.03 | -30.94 | 715.96 | Largecap | Capital Goods | Trading Companies & Distributors | Trading Companies & Distributors | 0.00 |
| APSE | Adani Ports and Special Economic Zone Ltd | ADANIPORTS | /stocks/adani-ports-and-special-economic-zone-APSE | Ports | 1,393.10 | 1,494.00 | 995.65 | 300,928.96 | 27.13 | 39.65 | 4.62 | 0.50 | 18.52 | -5.40 | 48.44 | 296.16 | Largecap | Transportation | Transportation Infrastructure | Marine Ports & Services | 0.00 |
| CGPO | CG Power and Industrial Solutions Ltd | CGPOWER | /stocks/cg-power-and-industrial-solutions-CGPO | Heavy Electrical Equipments | 785.40 | 874.70 | 517.70 | 123,675.45 | 126.90 | 39.65 | 30.63 | 0.16 | 27.62 | 7.71 | 242.00 | 3,132.10 | Largecap | Capital Goods | Electrical Equipment | Electrical Components & Equipment | 0.00 |
| CUMM | Cummins India Ltd | CUMMINSIND | /stocks/cummins-india-CUMM | Industrial Machinery | 4,030.40 | 4,095.00 | 2,580.00 | 111,722.69 | 55.86 | 39.65 | 14.78 | 1.28 | 28.22 | 5.43 | 230.10 | 754.71 | Largecap | Capital Goods | Machinery | Construction Machinery & Heavy Transportation Equipment | 0.00 |
| EICH | Eicher Motors Ltd | EICHERMOT | /stocks/eicher-motors-EICH | Trucks & Buses | 6,875.00 | 6,937.00 | 4,508.75 | 188,566.12 | 39.83 | 39.65 | 8.85 | 1.02 | 24.07 | 41.03 | 94.27 | 218.38 | Largecap | Automobiles & Components | Machinery | Motorcycle Manufacturers | 0.00 |
| HIAE | Hindustan Aeronautics Ltd | HAL | /stocks/hindustan-aeronautics-HIAE | Aerospace & Defense Equipments | 4,745.60 | 5,165.00 | 3,046.05 | 317,373.86 | 37.94 | 39.65 | 9.07 | 0.84 | 26.09 | 2.24 | 263.09 | 1,037.90 | Largecap | Capital Goods | Machinery | Aerospace & Defense | 0.00 |
| INGL | Interglobe Aviation Ltd | INDIGO | /stocks/interglobe-aviation-INGL | Airlines | 5,727.50 | 6,232.50 | 3,780.00 | 221,404.44 | 30.50 | 39.65 | 23.63 | 0.17 | 127.74 | 14.67 | 197.19 | 333.52 | Largecap | Transportation | Airlines | Passenger Airlines | 0.00 |
| LART | Larsen and Toubro Ltd | LT | /stocks/larsen-and-toubro-LART | Construction & Engineering | 3,579.80 | 3,963.50 | 2,965.30 | 492,405.72 | 32.75 | 39.65 | 4.27 | 0.95 | 13.80 | -1.17 | 82.47 | 296.83 | Largecap | Capital Goods | Construction & Engineering | Construction & Engineering | 0.00 |
| POLC | Polycab India Ltd | POLYCAB | /stocks/polycab-india-POLC | Electrical Components & Equipments | 7,254.50 | 7,605.00 | 4,555.00 | 109,201.95 | 54.06 | 39.65 | 11.02 | 0.48 | 22.26 | 5.93 | 184.52 | 716.63 | Largecap | Capital Goods | Electrical Equipment | Electrical Components & Equipment | 0.00 |
| SIEM | Siemens Ltd | SIEMENS | /stocks/siemens-SIEM | Conglomerates | 3,202.00 | 4,041.73 | 2,269.96 | 114,029.79 | 41.98 | 39.65 | 7.42 | 0.37 | 19.09 | -3.21 | 117.23 | 421.31 | Largecap | Capital Goods | Industrial Conglomerates | Industrial Conglomerates | 0.00 |
Disclaimer: Please note that the above capital goods stock list is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing.
Note: The data on this list of industrial stocks is dynamic in nature and subject to real-time changes. This data is derived from Tickertape Stock Screener.
What are Capital Goods Stocks?
Capital goods stocks in India refer to shares of companies engaged in manufacturing, distributing, and supplying machinery, equipment, and tools. They are often discussed alongside manufacturing stocks, which highlight India’s industrial output.
About the Top Capital Goods Stocks 2025
- Larsen and Toubro Ltd (L&T): L&T is a leading Indian multinational conglomerate, specialising in engineering, construction, technology, and manufacturing, with a strong focus on infrastructure development across various sectors.
- Hindustan Aeronautics Ltd: Hindustan Aeronautics is an Indian aerospace company, primarily engaged in the design, production, and maintenance of aircraft, helicopters, and related systems for the Indian military and civilian sectors.
- Adani Ports and Special Economic Zone Ltd: Adani Ports is India’s largest private port operator, providing logistics, port management, and infrastructure solutions for industrial development.
- Adani Enterprises Ltd: Adani Enterprises Ltd operates across energy, infrastructure, mining, and airports.
- InterGlobe Aviation Ltd: InterGlobe Aviation, which operates IndiGo Airlines, provides domestic and international air travel services.
How to Invest in Capital Goods Stocks?
Here is how one can invest in the capital goods stocks for long term in India.
- Open a demat/trading/stockbroker account. You can open a demat account with smallcase!
- Conduct thorough research into capital goods stocks in India that are of interest to you. Investors can use tools like the Tickertape Stock Screener to do this. The screener offers 200+ built-in filters to choose from, and investors can choose the parameters to research and conduct capital goods stock analysis.
- Place a ‘Buy’ Order on the capital goods shares or capital equipment shares in India of your choosing.
Benefits of Investing in Capital Goods Stocks
- Industrial Backbone: Capital goods stocks, along with industrial equipment stocks, include companies that make machinery, tools, and equipment used in manufacturing, construction, and infrastructure. These companies play a central role in India’s industrial and economic growth.
- Potential for Growth: When economies grow, the need for infrastructure, housing, energy, and manufacturing also rises. This higher demand helps capital goods companies grow and also supports the performance of manufacturing stocks.
- Cyclical Opportunities: The capital goods sector usually benefits during economic recovery and expansion. Rising demand for construction, industrial projects, and manufacturing can improve growth, often reflected in capital goods sector shares in India.
- Large Projects: Heavy industry stocks are directly linked with large capital projects such as mining, power plants, and transportation. Growing infrastructure demand drives the order books and performance of these companies.
Risks of Investing in Capital Goods Stocks
- Economic Volatility: Capital goods stocks are sensitive to economic fluctuations. During downturns, reduced infrastructure and industrial activity can lead to lower demand and impact the profitability of these companies.
- Project Delays: Large infrastructure and industrial projects frequently encounter execution delays, which can reduce order inflows and affect the revenue streams of capital goods companies.
- Raw Material Costs: Capital goods companies are highly sensitive to fluctuations in commodity prices. This means that fluctuations in raw material prices, such as those for steel and metals, directly affect manufacturing costs and margins.
- Regulatory and Political Challenges: Capital goods companies operate within a framework of government regulations, permits, and standards. Changes in these policies or political instability can disrupt operations and negatively impact these industrial stocks.
Factors to Consider Before Investing in Capital Goods Stocks
- Financial Health: Reviewing revenue growth, margins, and debt levels is important when analysing manufacturing sector stocks, since these companies often operate on large projects with long payment cycles.
- Infrastructure Spending: Government spending on housing, roads, and power increases demand for machinery and equipment. Such policies shape capital goods stock market trends, so staying updated with budgets and public investment is essential.
- Business Cycles: The performance of capital goods stocks is closely tied to the state of the economy. During periods of economic capital goods sector growth, businesses and governments typically focus on expansion, driving demand for capital goods.
- Product and Market Position: When searching for high-growth capital goods stocks, it is essential to consider whether companies operate in niche segments or broader markets. Companies engaged across various sectors, such as power, mining, and infrastructure, may expand more rapidly over time.
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To Wrap It Up…
Given the capital goods sector’s significant contribution to India’s GDP and the positive growth trajectory, it remains a critical part of the country’s industrial ecosystem. However, they also carry risks such as project delays, raw material cost fluctuations, and policy dependence. Tracking both growth opportunities and challenges helps in understanding how this sector fits into India’s broader industrial ecosystem.
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Frequently Asked Questions About Capital Goods Stocks
1. What are capital goods stocks?
Capital goods stocks represent companies that manufacture machinery, tools, and equipment used in industries like construction, power, transportation, and manufacturing. They are considered an important part of India’s industrial sector.
2. What are the mid-cap and small-cap capital goods stocks?
In India, small-cap capital goods companies generally have a market capitalisation below ₹5,000 cr., while mid-cap industrial stocks fall between ₹5,000 cr. and ₹20,000 cr. Investors can use Tickertape to filter small-cap good stocks based on market capitalisation.
3. Who should invest in capital goods stocks?
There is no single ideal profile, so those who want exposure to industrial and infrastructure growth can explore capital goods shares in India, which often reflect broader economic and manufacturing activity.
4. Is it a good time to invest in capital goods stocks?
The right timing to invest in capital goods shares in India depends on factors such as infrastructure spending, raw material prices, order inflows, and overall economic conditions that influence industrial demand.
5. Can capital goods stocks be profitable for investors?
Profitability in investment in the capital goods sector shares depends on order inflows, project execution, and raw material costs. It varies across companies, so before investing, investors need to consult a financial advisor and assess their investment goals.
6. What are capital equipment shares?
Capital equipment shares are companies that manufacture and supply heavy machinery, tools, and systems used in power, mining, construction, and manufacturing. They play a key role in large-scale industrial projects.
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