Defence procurement, pipeline offer strong growth for Bharat Dynamics

Margins for state-owned firm that specialises in missiles would be range bound given higher raw material costs

Bharat Dynamics Ltd Akash Weapon System
Premium

The company has entered air-to-surface missile systems, a new segment with a market size of $6 billion

Ram Prasad Sahu Mumbai
The stock of Bharat Dynamics, the public sector defence firm, has gained more than 14 per cent in five trading sessions as brokerages reiterate buy ratings on expectations of government procurement, strong order book, growth in exports and stable operating profit margins.

The trigger is news that the state’s Defence Acquisition Council has approved 24 capital acquisition proposals worth Rs 84,300 crore and including a missile system for the Indian Air Force. Amit Dixit of ICICI Securities and other analysts say that specifics for contracts, timeline or category-wise break up is not available, but they expect Bharat Dynamics to benefit

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Dec 29 2022 | 5:27 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com