Record defence production and exports, coupled with strong order books and improving execution, are expected to support healthy growth for defence companies in FY27
Motilal Oswal has reiterated a 'Buy' rating on BEL stock with an unchanged target price of ₹510, based on the 45x two-year forward earnings.
Jefferies' top picks include Siemens Energy (SE), Hitachi Energy (Hitachi), Hindustan Aeronautics (HAL), Bharat Electronics (BEL), KEI Industries, and Larsen & Toubro (L&T)
The geopolitical backdrop, analysts believe, continues to provide a structural tailwind, as the conflict in the Middle East has reinforced defence budget urgency across GCCs
Pabitro Mukherjee of Bajaj Broking believes that Ashok Leyland, Bharat Electronics and Garden Reach Shipbuilders recently saw sideways consolidation and now offer a favourable risk-reward profile.
In the March quarter (Q4FY26), Bharat Electronics reported a net profit of ₹2,225.2 crore, as compared to ₹2,127.04 crore a year ago, up 4.6 per cent.
BEL share price today, dividend 2026: Along with Q4 results, the board of BEL also recommended a final dividend of 55 per cent or Re 0.55 per share of Re 1 face value for FY2026.
Q4FY26 company results: Firms including Zydus Lifesciences, BASF India, PI Industries, Zee Entertainment, and Bosch Home Comfort India are also to release their January-March earnings today
Anand James, chief market strategist at Geojit Investments, is bullish on the shares of BEL, ELGI Equipments, and JSW Energy today
The Nifty India Defence index hit an intra-day high of 9,093.20, up 1.3 per cent on the NSE in intra-day deals, and was inching towards its 52-week high of 9,159.55 touched on June 24, 2025.