Stocks to Buy: Multibagger Defence Stocks Astra Microwave Products, Azad Engineering, Solar Industries India are among ICICI Securities 3 top picks, ahead of Q4 results. ICICI Securities expects 13-24% for the stocks.
Harshit Kapadia discusses the positive export momentum in the defence sector, citing increased export demand, growth in manufacturing bigger equipment, and Indian companies strong positioning in global markets. Anticipates continued order inflow momentum and potential valuation expansion.
Hindustan Aeronautics (HAL) is one of the largest beneficiaries of the defence indigenisation programme.
The aerospace Public Sector Undertaking (PSU) has just received a new tender for 97 Light Combat Aircraft (LCA) Tejas Mk1A, and it is already servicing an earlier order for 83 LCA aircraft.
The new order is worth around Rs 65,000 crore with a 65 per cent indigenisation component, whereas the earlier order (February 21) was worth Rs 45,700 crore with 55 per cent indigenisation.
Hero MotoCorp, HCL Technologies, Kotak Mahindra Bank, ICICI Bank and SBI Life Insurance were top Nifty losers. Gainers included Tata Consumers Products, M&M, BPCL, Bajaj Auto and Adani Ports
Bharat is still "saare jahan se accha (best in the world)", said the country's very first cosmonaut Rakesh Sharma, who is celebrating the 40th anniversary of that historic flight.