Belrise Industries shares rose after it announced a strategic agreement with Israel-based Plasan Sasa to explore defence-related business opportunities
Belrise and Plasan Sasa announced a strategic agreement to jointly pursue opportunities in the Indian military market with the innovative ATEMM systems.
JM Financial has set a target price of ₹215 for Belrise Industries stock, valuing it at 25x FY28E P/E
Pro-growth policy measures such as the government's proposed goods and services tax (GST) rationalisation are expected to aid consumption
Shares of Belrise Industries hit a new high of ₹162.60, surging 6 per cent on the BSE in Tuesday's intra-day trade amid heavy volume in an otherwise weak market.
According to analysts at Investec, Belrise is well placed for growth as it expands it OEM ties, rolls out new products and improves ASP via premiumisation
In the past week, the BSE IPO index gained 3.5 per cent, as against a 0.83 per cent rise in the benchmark Sensex index
The northward move in Belrise Industries shares came after foreign brokerage Jefferies initiated coverage with a 'Buy' rating, and set a target price of ₹135, implying a potential upside of 31per cent