Nomura notes defense pipeline is boosting AMCA sector stock appeal
1 report, 1 independent
Updated Oct 6
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What happened
Bharat Electronics Ltd received at least four 'Buy' or 'Add' recommendations in the past week alone. Analysts upgraded the defense stock, with Kotak Institutional Equities moving to 'Add' from 'Reduce' with a target price of Rs 410 apiece. Other targets included Rs 525 from HSBC and Rs 530 from MOFSL, while Nomura set a target of Rs 500.
From businesstoday.in
Why it matters
The recommendations were based on the outlook for defense programs, including QRSAM, AMCA, and Naval projects. The emergence of missiles and exports was cited as a key factor supporting medium-term growth for the company.
From businesstoday.in