Chinese Firms: Winners & Losers from India's Potential Restriction Ease

• Reports suggest India may ease 2020 restrictions on Chinese firms bidding for public sector contracts.
• Jefferies predicts varied impact: defence and Cummins face minimal effect.
• Larsen & Toubro, Afcons, BHEL could see highest impact from Chinese re-entry into infrastructure.
• Bernstein expects segment-specific relaxation or added compliance, not full removal of Rule 144.
• Power Grid and NTPC are potential winners due to increased competition, leading to faster project execution and lower costs.

Why It Matters: India's potential easing of restrictions on Chinese firms will create winners and losers across sectors.