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Time of India
18-07-2025
- Business
- Time of India
HAL, BDL, Data Patterns shares drop up to 5% as profit booking hits defence stocks for third straight day
Shares of key Indian defence companies like HAL , BDL, Data Patterns tumbled up to 5% on Friday as investors continued to lock in gains following a months-long rally, dragging the Nifty India Defence index down by 2.2%, its third straight day of losses and sixth in the past seven sessions. Data Patterns led the decline with a drop of 4.6% to Rs 2,760, while Bharat Dynamics Ltd (BDL) fell as much as 3.9% to Rs 1,675.35. Shares of Hindustan Aeronautics Ltd (HAL) slipped 2.5% to Rs 4,666.50. Explore courses from Top Institutes in Select a Course Category Artificial Intelligence Management Data Science Cybersecurity Healthcare MBA Others Leadership others Data Analytics Digital Marketing Product Management Operations Management Public Policy Finance CXO Design Thinking Degree healthcare PGDM Project Management Data Science Technology MCA Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Freedom Holding Corp Joins FXO ETF Alongside Berkshire Hathaway and Citigroup TechBullion Other notable laggards included Cochin Shipyard and BEML , which were also down 2.5%, while Mazagon Dock Shipbuilders and Bharat Electronics Ltd (BEL) lost 2% each. Shares of Paras Defence and Garden Reach Shipbuilders & Engineers (GRSE) declined by over 1%. Defence stocks had rallied sharply earlier this year, buoyed by expectations of strong order inflows and escalating geopolitical tensions. The Indian military's targeted strikes in Pakistan under 'Operation Sindoor' in May brought the sector into sharp focus, while ongoing hostilities between Russia and Ukraine and a flare-up in tensions between Israel and Iran added further momentum to the rally. However, with the global security environment showing signs of stabilisation, that upward momentum has begun to fade. As concerns around valuations rise, analysts now warn that the sector may be overstretched after the recent run-up. Live Events Also read | Motherson Sumi, Samvardhana Motherson International shares rise up to 4% on bonus share issue record date With the Nifty India Defence index declining for a third straight session, the broader sentiment around defence stocks appears to be shifting from optimism to caution. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
11-07-2025
- Business
- Time of India
Valuation fears hit defence stocks: Where are they headed? Here's what analysts say
Defence sector stocks came under pressure on Thursday as investors booked profits following a sharp three-month rally. The Nifty India Defence Index dropped 2%, lagging the broader Nifty which ended 0.5% lower. Out of the 18 stocks on the defence index, 16 closed in the red. Bharat Dynamics was the biggest loser, falling 4.8% to Rs 1,893 after Motilal Oswal initiated coverage on the stock with a 'neutral' rating and a target price of Rs 1,900, suggesting limited upside. 'We like the business model of BDL and its ability to scale up its revenues and order book in the current scenario; however, with fair valuations, we would look for lower price points to enter the stock,' analysts at Motilal Oswal said, quoted ET in a report. Other top laggards included Solar Industries, which lost 3.3%, and Zen Technologies, down 2.9%. Data Patterns, Astra Microwave, and Garden Reach Shipbuilders fell more than 2.5%. Hindustan Aeronautics declined 1.9%, while BEML and Paras Defence & Space Technologies were down 1.4% each. Some Retreat in Defence Stocks Company Thursday's Change (%) 3-Month Gains (%) YTD Change (%) Garden Reach Shipbuilders & Engineers –2.8 79.4 79.2 Astra Microwave Products –2.8 41.4 33.2 Data Patterns (India) –2.6 75.1 19.2 BEML –1.3 51.7 13.2 MTAR Technologies –0.5 18.5 –5.5 Unimech Aerospace and Manufacturing –0.3 41.5 –7.0 Cyient DLM +0.3 9.3 –27.3 Nifty India Defence Index –2.0 38.5 33.7 Source: ET report Analysts said the correction was triggered by stretched valuations and cooling geopolitical tensions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dementia Has Been Linked To a Common Habit. Do You Do It? Memory Health Learn More Undo 'The fall in defence stocks today was largely due to profit booking and easing of geopolitical tensions,' said Pranay Aggarwal, director and CEO of Stoxkart. 'Given the strong rally in the stocks, the corrections were bound to happen.' The Nifty India Defence Index had surged 42.2% in the past three months, far outpacing the Nifty's 13.2% gain. The strong momentum revived concerns over high price-to-earnings multiples, with some stocks trading at nearly 60 times earnings — well above their historical averages. 'The correction was due to overvaluation in the defence stocks as the sector is trading at around 60 times price to earnings, which is significantly higher than the historical average,' said Ashwini Shami, EVP and portfolio manager at OmniScience Capital. 'The growth in the defence companies is already priced in the stocks; so unless the companies continue to deliver 18–20% growth, sharp declines are likely.' He added that 'further falls cannot be ruled out due to premium valuations.' Despite the correction, fund managers remain optimistic about long-term growth prospects. 'Some of the companies can witness 70–80% growth in order inflows, which is expected to justify the valuations, especially given the significant export opportunities in the next three to five years,' said Bhalchandra Shinde, associate fund manager at Motilal Oswal AMC. Shinde recommended a buy-on-dips strategy for investors, noting that the defence segment may trade sideways in the coming months. 'Stocks are likely to remain sideways for the rest of the year since there are no major events in the July to December period for the sector and most orders are secured between January to March,' he said. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
10-07-2025
- Business
- Time of India
Defence stocks retreat after up to 84% rally in 3 months. Is it time to book profits or hold?
India's defence pack was under pressure on Thursday with stocks falling by up to 5% in the day's trade amid weak market sentiments and profit booking by investors. The decline follows a strong rally over the past three months with stocks rallying as much as 84%. The biggest loser of the day was Bharat Dynamics Limited , which fell to the day's low of Rs 1,887.60 on the NSE. The trigger was Motilal Oswal Financial Services (MOFSL) initiating coverage on BDL stock with a 'Neutral' rating and a target price of Rs 1,900, about 4% below its current market value, cautioning that the stock's sharp run-up leaves little room for near-term upside. The other top losers were Garden Reach Shipbuilders (GRSE), Solar Industries , Zen Technologies , Data Patterns (India), Hindustan Aeronautics (HAL), Paras Defence and Space Technologies , Astra Microwave Products , BEML , Cochin Shipyard , Mishra Dhatu Nigam , MTAR Technologies , DCX Systems , Unimech Aerospace and Manufacturing and Dynamatic Technologies , whose share prices slipped between 3.4% and 0.4%. The Nifty India Defence Index was down by over 2% around 1:30 pm. Bull rally Defence stocks have had a strong run on the D-Street for the past three months. The Nifty India defence index has appreciated by over 42% with all 18 stocks riding on the bulls. Defence PSU GRSE is the top gainer with 84% returns and is followed by Data Patterns and Paras Defence which have yielded 81% and 79% returns, respectively in the same period. The rest of the stocks have also given double-digit returns. Cyient, MTAR and HAL are at the bottom of the ladder with returns of 15%, 21% and 22%, respectively. The stocks have risen on account of global geopolitical tensions, including at the Indian doorstep with near near-warlike situation with rival Pakistan, as India vowed to take a deterrent step against terrorist installations following the Pahalgam killings. The positive sentiments also rode on the overall recovery in the domestic stock markets as US President Donald Trump deferred the tariffs to a three-month period. This enabled a recovery in the domestic markets as Nift and BSE Sensex gained over 12% and 13% in the said period. With relative calm, the premium on defence stocks have come down. The recent correction has extended 1-month fall to near 4% at the index level. While defence stocks are known to move faster, valuation concerns remain a constant concern for investors. Defence stocks outlook Notwithstanding the recent correction, domestic brokerage ICICI Securities projects a strong growth trajectory for the domestic companies in FY26, stating that most of the companies under its coverage have guided for >15% revenue growth, driven by robust order inflow after Operation Sindoor. In a report, this brokerage highlighted select names such as Bharat Dynamic Ltd (BDL), Solar Industries and Azad Engineering to likely post even higher growth in the range of 25–30%, the brokerage highlighted in its June defence sector digest. ICICI Securities has also named its top stock picks in the sector, listing Solar Industries, Astra Microwave and Azad Engineering as its top picks in the private space. Among defence public sector undertakings (DPSUs), it prefers Hindustan Aeronautics Ltd (HAL), Bharat Electronics Ltd (BEL) and Midhani.
Economic Times
10-07-2025
- Business
- Economic Times
Defence stocks retreat after up to 84% rally in 3 months. Is it time to book profits or hold?
Defence stocks have risen on account of global geopolitical tensions, including at the Indian doorstep with near near-warlike situation with rival Pakistan India's defence stocks retreated on Thursday after a sharp three-month rally, with Bharat Dynamics falling the most. The Nifty India Defence Index dropped over 2% amid profit booking and valuation concerns. Analysts, however, see robust long-term growth prospects driven by strong order inflows post-Operation Sindoor. Tired of too many ads? Remove Ads Bull rally Tired of too many ads? Remove Ads Defence stocks outlook India's defence pack was under pressure on Thursday with stocks falling by up to 5% in the day's trade amid weak market sentiments and profit booking by investors. The decline follows a strong rally over the past three months with stocks rallying as much as 84%.The biggest loser of the day was Bharat Dynamics Limited , which fell to the day's low of Rs 1,887.60 on the NSE. The trigger was Motilal Oswal Financial Services (MOFSL) initiating coverage on BDL stock with a 'Neutral' rating and a target price of Rs 1,900, about 4% below its current market value, cautioning that the stock's sharp run-up leaves little room for near-term other top losers were Garden Reach Shipbuilders (GRSE), Solar Industries Zen Technologies , Data Patterns (India), Hindustan Aeronautics (HAL), Paras Defence and Space Technologies Unimech Aerospace and Manufacturing and Dynamatic Technologies , whose share prices slipped between 3.4% and 0.4%.The Nifty India Defence Index was down by over 2% around 1:30 pm. Defence stocks have had a strong run on the D-Street for the past three months. The Nifty India defence index has appreciated by over 42% with all 18 stocks riding on the PSU GRSE is the top gainer with 84% returns and is followed by Data Patterns and Paras Defence which have yielded 81% and 79% returns, respectively in the same rest of the stocks have also given double-digit returns. Cyient, MTAR and HAL are at the bottom of the ladder with returns of 15%, 21% and 22%, stocks have risen on account of global geopolitical tensions, including at the Indian doorstep with near near-warlike situation with rival Pakistan, as India vowed to take a deterrent step against terrorist installations following the Pahalgam positive sentiments also rode on the overall recovery in the domestic stock markets as US President Donald Trump deferred the tariffs to a three-month period. This enabled a recovery in the domestic markets as Nift and BSE Sensex gained over 12% and 13% in the said relative calm, the premium on defence stocks have come down. The recent correction has extended 1-month fall to near 4% at the index defence stocks are known to move faster, valuation concerns remain a constant concern for the recent correction, domestic brokerage ICICI Securities projects a strong growth trajectory for the domestic companies in FY26, stating that most of the companies under its coverage have guided for >15% revenue growth, driven by robust order inflow after Operation a report, this brokerage highlighted select names such as Bharat Dynamic Ltd (BDL), Solar Industries and Azad Engineering to likely post even higher growth in the range of 25–30%, the brokerage highlighted in its June defence sector Securities has also named its top stock picks in the sector, listing Solar Industries, Astra Microwave and Azad Engineering as its top picks in the private space. Among defence public sector undertakings (DPSUs), it prefers Hindustan Aeronautics Ltd (HAL), Bharat Electronics Ltd (BEL) and Midhani.
Mint
03-07-2025
- Business
- Mint
HAL, BEML to Paras Defence — defence stocks gain as Indo-American govt to ink 10-year defence framework
Hindustan Aeronautics, BEML, Paras Defence, Data Patterns, among other defence stocks gained on Thursday after India and the US agreed to ink a 10-year defence framework. Data Patterns (India), Cyient DLM, BEML, HAL, Dynamatic Technologies, Paras Defence and Space Technologies and Mazagon Dock Shipbuilders shares were among the top gainers in the Nifty India Defence index, gaining over a percent each. The index rose 0.65%. On the contrary, Bharat Dynamics, Unimech Aerospace and Manufacturing, Astra Microwave Products, Mishra Dhatu Nigam, DCX Systems and Zen Technologies were among the losers in the index, falling over half a percent each. Defence Minister Rajnath Singh and his American counterpart Pete Hegseth have agreed to firm up a 10-year framework to further expand defence and strategic ties between India and the US, said a Pentagon statement released on Wednesday, a day after Singh and US Defence Secretary Hegseth held a phone conversation. 'Secretary Hegseth and Minister Singh agreed to sign the next 10-year US-India Defence Framework when they next meet this year,' it said. The two sides discussed pending major US defence sales to India and the imperative of close defence industrial cooperation between the two countries, the Pentagon readout added In the phone conversation on Tuesday, Singh urged Hegseth to expedite the delivery of GE F404 engines to power the Tejas Light Combat Aircraft, PTI reported, quoting people familiar with the matter. Singh also pitched for early finalisation of a proposed deal between Hindustan Aeronautics Ltd (HAL) and US defence major GE Aerospace for joint production of F414 jet engines in India, the report added. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
