Jefferies, a leading foreign brokerage, anticipates a prolonged upswing in corporate spending and the housing cycle, projecting a five-plus year growth trajectory. These sectors, constituting 75% of the total capital expenditure (capex), emerge as major drivers. 

Jefferies suggests that any potential dip in capex plays, influenced by waning confidence in government-led initiatives, could present a strategic buying opportunity. The brokerage identifies Larsen & Toubro (L&T), State Bank of India (SBI), Lodha, Godrej Properties, Ultratech Cement, Thermax, Polycab, KEI, Kajaria, JSW Energy, and Coal as its preferred capex cycle plays, signaling positive prospects for investors in India’s evolving capex landscape.

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