Most sector PSUs ended FY23 with strong order books
The Ministry of Defence (MoD) on March 30 signed contracts with Indian shipyards, Bharat Dynamics, Bharat Electronics, and BrahMos Aerospace for equipments worth over Rs 35,000 crore.
HAL sets to hit new all-time and may rise up to 9 per cent. BDL and BEL need to cross key hurdles to breakout.
In the near-term, analysts believe a drop in the defence budget for financial year 2023-24, coupled with premium valuations of related stocks, could weigh on the sentiment
The strong order book, and the likelihood of better margins -- as the supply chain untangles and raw material costs decline -- are good reasons to back BEL in the long term
Bharat Dynamics, Hindustan Aeronautics, and Bharat Electronics have skyrocketed 87 per cent, 79 per cent, and 44 per cent, respectively, since Budget 2022
Investors may consider buying the stock on dips, say experts