MTAR Technologies revenue from operations stood at Rs 166.8 crore in Q2FY24 as against Rs 126.2 crore in the corresponding period of the last financial year. It was up 32.2%. The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) reported by the company for the reporting quarter stood at Rs 36.1 crore as compared to Rs 34.9 crore in the year ago period. It was up by 3.4% YoY.
Defense stocks have climbed up an average of 80 per cent in the past six months. The prevailing market capitalisation of nine defense stocks implies Rs 1.3 lakh crore of annual revenues, , up from Rs 62,500 crore in FY23.
NMDC is seen forming a Cup and Handle pattern on the technical chart and approaching the breakout zone of the said pattern. The stock is trading well above its 10- and 20-day moving averages.