Data available from corporate database ACE Equity shows that Nifty India Defence index has surged 142% in the 12-month period. The index has significantly outperformed the equity benchmark Nifty50 that has given 26% return in the same duration
Stocks of public sector undertakings (PSU) have had a phenomenal run in the last one year as well as in 2024 YTD (year-to-date) with the Nifty PSE index outperforming the benchmark Nifty in both these time frames. All constituents of the Nifty PSE index were also positive in these time frames.
Expectations of better turnover in Q4 and full FY24, coupled with block deals, especially in Cochin Shipyard, have led to a strong rally in the PSU shipbuilding stocks, says A R Ramachandran of Tips2trades
News News: IIT Kharagpur's Centre of Excellence in Advanced Manufacturing Technology (CoEAMT) has developed two groundbreaking AI-enabled non-destructive testing
Defence stocks: The brokerage recommended Solar Industries (Buy; target price: Rs 10,950), Astra Microwave (Buy; target price: Rs 800) and Azad Engineering (Buy; target price: Rs 1,600) as key stock picks in the defence space.