The problem was more sectoral in nature. The shares of engineering and capital goods companies were under pressure S&P BSE Capital Goods index hitting a 6-year low in the aftermath of the Coronavirus (Covid-19) outbreak. Since Jan-20, the BSE Capital Goods index has fallen by 46% as compared to 36% for the benchmark Nifty. Investors and analysts anticipate weakness on the execution front in H1FY21 due to current challenges in manpower movement. The closure of government offices would also impact order awarding and payment disbursals. L&T has corrected more than 50% since the beginning of January and has been under tremendous pressure after the capital investment cycle turned negative and L&T started lasted losing out some large government orders after the incumbent governments lost power in states like Maharashtra and Andhra Pradesh.