Why did CG Power, Hitachi Energy, Apar Industries and other capital goods stocks crash up to 10% today? Explained

Capital goods stocks including CG Power, Hitachi Energy India, Apar Industries, GE Vernova T&D India, and Siemens Energy India fell sharply by up to 10 percent after the Indian government permitted four Chinese manufacturers to participate in tenders for government power projects. The policy shift is expected to intensify competition for domestic capital goods firms, even as easing India-China tensions and rising infrastructure demand drive overall sector growth.