BSE Capital Goods Index Hits Record High: BHEL, Polycab India and More Rally Up To 7%

The BSE Capital Goods Index touched a fresh record of 79,887.59, gaining nearly 2% intraday. Over the last 2 months, the index has climbed 17%, supported by strong buying in power, cables, and engineering companies. During the session, the index rose 1.5% while the BSE Sensex remained almost flat.

Stocks That Led The Rally

Several capital goods companies hit record highs. Key gainers included:

• Bharat Heavy Electricals Limited (BHEL)
• Polycab India Limited
• Thermax Limited
• CG Power and Industrial Solutions Limited
• Cummins India Limited
• GE Vernova T&D India Limited
• Hitachi Energy India Limited
• Kirloskar Oil Engines Limited

These stocks rose between 3% and 7% due to strong demand and positive business outlook.

BHEL Share Price in Focus 

BHEL shares hit a new high of around ₹405.50, rising about 5% intraday and gaining 65% since April.

Strong Growth Outlook For Wires & Cables Sector

Polycab highlighted strong growth drivers for the wires and cables industry:

• Demand from infrastructure and power sector
• Rising energy consumption
• Growth in EVs, data centres, defence, and electronics
• Real estate upcycle

Read More: Best Gold ETFs in India for May 2026: LIC MF, Aditya Birla Sun Life, ICICI Prudential and More Based on 5-Y CAGR.

Capex Push Driving The Sector

Government initiatives and manufacturing growth plans are boosting the sector. Key triggers include:

• Target to increase manufacturing share of GDP to 25%
• PLI schemes for electronics, autos, solar, batteries, and semiconductors
• India’s refining capacity expected to rise significantly by 2030

These factors are expected to drive long-term demand for capital goods companies.

Conclusion

The capital goods sector is benefiting from strong infrastructure spending, rising manufacturing activity, and a robust order pipeline. 

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