3 Defence PSU Stocks to Buy: Analysts pick HAL, BEL & Bharat Dynamics for up to 57% potential upside, details inside
The equity benchmark indexes Sensex and Nifty opened the trading on a high note on Thursday (February 27), but subsequently saw volatile patterns due to ongoing foreign money withdrawals, monthly derivatives expiry, and negative global market signals.
Meanwhile, brokerage Elara Capital has suggested buying three defence stocks for investors. These include Hindustan Aeronautics Ltd (HAL), Bharat Electronics Ltd (BEL) and Bharat Dynamics. A look at their targets.
The brokerage has given a 'buy' rating for HAL stock. The target is Rs 5,160 each. On Tuesday (February 26), HAL shares closed at Rs 3,283.9 each. This means the stock can provide up to 57 per cent returns from its last closing price.
The analysts have also picked BEL stock and given a target of Rs 370 each. On Tuesday (February 26), BEL shares closed at Rs 256.4 each. This means the stock can provide up to 44 per cent returns from its last closing price.
The brokerage also suggests buying Bharat Dynamics stock. The target is Rs 1,360 each. On Tuesday (February 26), Bharat Dynamics shares closed at Rs 1,023.9 each. This means the stock can provide up to 33 per cent returns from its last closing price.
Elara Capital has stocks like Zen Technologies, Data Patterns, Azad Engineering, Astra Microwave Products on its Wishlist.
It says that the target is to achieve domestic defence production of Rs 1.6 lakh crore and defence exports of Rs 30,000 crore in FY26. Talking about exports, interest is growing rapidly from France, Armenia, Philippines, Vietnam, African countries, and the Middle East. All these factors are sectoral tailwinds.
India is considering bids from the United States and Russia to purchase fifth-generation fighter planes, such as the Lockheed Martin F-35 and the Sukhoi Su-57. India is looking at these possibilities to increase its air capability and strengthen its defence links.
The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers consult their investment advisers before making any financial decision.
