Bank of America Merrill Lynch expects capex revival for India.
Cites pent-up demand, governments focus to ease bottlenecks as key factors.
Says expect $360 billion in orders over FY15-17 translating into a "robust" 11-20% growth for the industrials sector.
Keeps "buy" on Larsen & Toubro , Crompton Greaves , Bharat Electronics , and Voltas .
Keeps "underperfrom" on Bharat Heavy Electricals , ABB India , Cummins India , and Siemens India .
Maintains "neutral" on Thermax.
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