Stocks to watch today: Nestle India, and Schaeffler India will report the October-December quarter (Q3FY23) results on Thursday, February 16.
In the near-term, analysts believe a drop in the defence budget for financial year 2023-24, coupled with premium valuations of related stocks, could weigh on the sentiment
Bharat Dynamics, Hindustan Aeronautics, and Bharat Electronics have skyrocketed 87 per cent, 79 per cent, and 44 per cent, respectively, since Budget 2022
Margins for state-owned firm that specialises in missiles would be range bound given higher raw material costs
KRAS is a joint venture set up by Israeli company, Rafael, in partnership with Kalyani Strategic Systems
The company expects an order book Rs 25,000 crore in the next 2 years
The defence procurement budget is likely to increase considerably for FY24E with the share of imports coming down further, according to analysts.
Companies like BEL, BDL and HAL have strong order books and are prepping for the export market, say analysts
Bharat Dynamics, JK Paper and Hindustan Aeronautics have surged over 100 per cent, while Elgi Equipments and Schaeffler India are just shy from doubling the investor's wealth so far in 2022.
Bharat Dynamics has more-than-doubled in 2022 so far, however, the stock still trades 14 per cent shy from its historic peak.
CLOSING BELL: The Nifty50 index shut shop at 16,523, down 62 points or 0.37 per cent
The company has signed a contract worth Rs 2,971 crore with Ministry of Defence for supply of Astra Mark-I BVRAAMs and associate equipments to Indian Air Force and Indian Navy.
Stocks to Watch Today: AU Small Finance Bank will be in focus as the company has set June 10 as the record date for the proposed 1:1 bonus issue.
With air-to-air missiles costing about Rs 15 crore each, the Astra will provide major business opportunities to Indian firms
ASTRA MK-I missile and all associated systems for its launch, and ground handling and testing have been developed by DRDO in coordination with the IAF, an official state from the ministry stated.
Government of India aims to reduce the country's dependence on imports of defence equipment and have a more 'self -reliant' defence sector under the Aatmanirbhar Bharat initiative.
The market price of BDL has surged 35 per cent in six trading days after exchanging MoU with UAE firm to explore new business opportunities.
The counter witnessed three-fold jump in volume with a combined 2.3 million equity shares changing hands on the NSE and BSE.
With this contract, the company's order book position stands at Rs 11,400 crore (net), BDL said in an exchange filing.
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.