With zero debt and comfortable working capital position, Bharat Electronics is well-placed to benefit from the defence opportunity, Jefferies said. Global OEM tie-ups not giving a material benefit is seen as a key risk for the HAL stock.
As per Trendlyne data, the average target price of the stock is Rs 2,841, which shows a downside of 17% from the current market prices. The consensus recommendation from 12 analysts for the stock is a Buy .
HAL’s order book stood at ₹80,000 crore in FY23 and UBS expects the defence PSU to triple its order book to ₹2.4 lakh crore in FY26 led by increased defence expenditure.