Analysts at Geojit valued the Astra Microwave stock at 35x FY28 estimated earnings per share (EPS), with a target price of ₹1,067
The brokerage views the company as a long-term investment in defense electronics, expecting its revenue growth to accelerate between FY27 and FY30
Around 10:50 AM, Astra Microwave share price was trading 1.64 per cent higher at ₹917.50 per share. By comparison, BSE Sensex was trading 0.25 per cent higher at 85,033.88 levels.
The Nifty Defence index has shed nearly 3 per cent in November, with stocks such as BEML, MIDHANI and HAL among others falling up to 17% despite 1% gain on the Nifty 50.
At 10:20 AM; Nifty India Defence index was up 1.5 per cent, as compared to 0.35 per cent rise in Nifty 50 in Friday's trade.
The brokerage has assigned an 'Add' rating to HAL and BEL, with target prices of ₹6,325 and ₹459, respectively, while Bharat Dynamics, Astra Microwave, and Data Patterns remain 'Not Rated.'
Stocks to buy: Astra Microwave Products has shown a strong movement in the last trading session, while Lupin has recently undergone a notable resurgence
At 10:32 AM; Nifty India Defence index was up 2.6 per cent, as compared to 0.28 per cent rise in Nifty 50.
At 10:30 AM, Astra Microwave share price was trading 3.12 per cent higher at 978.80 per share. By comparison, BSE Sensex was trading flat at 80,702.97 levels.