This Defence Stock To Likely Jump 15% in Just 21 Days, Target Price 1085: Axis Securities

Axis Securities has given buy call to the defence sector stock Bharat Dynamics for a target price of Rs 1085. Earlier on Monday Bharat Dynamics emerged as one of the top gainers in the category of defence shares. The stock gained 1.19% yesterday to close at 931 apiece on NSE and so far till afternoon trading gained 1.09% at Rs 942 apiece on NSE. The stock has gained nearly 10% in just 1 week.

Recently, Bharat Dynamics Ltd inked a deal worth Rs 2,971 crore for the supply of ASTRA MK-I Beyond Visual Range (BVR) Air to Air Missile (AAM) and associated equipment for the Indian Air Force & Indian Navy. "The order book position is picking up and we are further able to consolidate our orders which are in various stages of finalization. We expect an order book ₹25,000 crore in the next 2 years," Bharat Dynamics informed in its 52nd annual report for the year 2021-22.

Bharat Dynamics Stock Outlook

The current market price of the stock is Rs 941 apiece on BSE with an intraday gain of 1.01%. According to Axis Securities, if you buy the stock at its current market price of Rs 941, it is showing a potential to reach its target price of Rs 1085 apiece in a target time of 21 days. It will offer a potential gain of 15% in just 21 days.

Bharat Dynamics Ltd 52 Week High/Low

The stock's 52-week high is Rs 978 apiece and 52-week low is Rs 368 apiece, respectively.

Bharat Dynamics Ltd Market Capitalization

The company has a market capitalization of Rs 17,251.35 crore at the time of writing the story.

Bharat Dynamics Ltd 5 Years Return

It has given a return of 141% in last 5 years, 225% in last 3 years, and 143% in just 1 year.

Bharat Dynamics Ltd Quarterly Results

The mid-cap company for the quarter ending June 30, 2022 declared a consolidated total income of Rs 731.56 crore, down 48.11% from last quarter total Income of Rs 1,409.77 crore. It declared a net profit after tax of Rs 39.86 crore in latest quarter.

Bharat Dynamics Ltd About

Headquartered in Hyderabad, Bharat Dynamics Limited (BDL), was incorporated on 16 July, 1970 as a Public Sector Undertaking under the Ministry of Defence, Government of India to be the manufacturing base for guided missile systems and allied equipment for the Indian Armed Forces.

Since its inception, BDL has been working in collaboration with DRDO & foreign Original Equipment Manufacturers (OEMs) for manufacture and supply of various missiles and allied equipment to Indian Armed Forces, according to its official website.

Disclaimer

The above stock was picked from the brokerage report of Axis Securities. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.