India's defence sector will present an "ordering opportunity" worth $138 billion between 2023-24 (FY24) and FY32, said Nomura in a recent report.
The research and broking house has initiated coverage on two defence players Hindustan Aeronautics (HAL) and Bharat Electronics (BEL) with a 'buy' rating. It sees an upside potential of 28 per cent and 32 per cent, respectively, for the two stocks from current levels. The sector is witnessing significant growth driven by increasing defence budgets, modernisation, and the government's Make in India initiative for indigenous manufacturing.
"India's strategic location in the geopolitically significant South Asian region makes defence a priority area for national security as it continues to strengthen its defence capabilities to address regional security challenges. Our bottom-up analysis presents an ordering opportunity worth $138 billion over FY24-32F (forecast) for defence manufacturing and production," wrote Nomura's Umesh Raut and Tanay Rasal in the report.
BEL, and Bharat Dynamics are some other defence-related stocks that have gained up to 50 per cent in CY24, according to ACE Equity data. In comparison, the S&P BSE Sensex has moved up 1.7 per cent.
Diese Geschichte stammt aus der May 10, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der May 10, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Indian-American Bruhat Soma wins National Spelling Bee
Bruhat Soma, a 12-year-old IndianAmerican seventh-grade student from Florida, has won the Scripps National Spelling Bee after he spelt 29 words correctly in the tiebreaker, maintaining the dominance of the children from the small ethnic community in the prestigious competition.
Charging ahead
Chandra tells SOHINI DAS why he is determined to focus on net carbon zero rather than lose track to distractions
WIND BENEATH INDIGO'S WINGS
Turboprop planes have helped IndiGo rule the regional aviation network for the last five years. And there might be more coming
S&P may raise ratings if fiscal glide path stays
Says will closely observe India's policy for 2 yrs
Georgia reaches out to India to begin FTA talks
Georgia, the Southern Caucasus country, has reached out to India to start negotiations for a free-trade agreement (FTA), said a person aware of the matter.
States hit 84% of FY24 capex target
The provisional accounts of 25 states for the financial year 2023-2024 (FY24) showed they achieved 84 per cent of the budgeted capital expenditure, with four states Uttar Pradesh, Telangana, Bihar, and Sikkimspending 100 per cent or more than the targeted amount, according to data compiled by the Comptroller and Auditor General of India (CAG).
Tata Capital eyes 35% rise in FY25 retail loans
Tata Capital expects its retail loan portfolio to grow 35 per cent in the financial year 202425 (FY25) - slightly slower than the previous year due to a high base effect and a slowdown in personal loans due to regulatory action, said a senior executive of the company.
NIFTY SEES RARE DECLINE AFTER 3 MONTHS OF GAIN
The benchmark Nifty ended May with a decline of 0.3 per cent, snapping its three-month winning streak, amid heightened volatility.
After rally, NMDC stock to price in positives
NMDC, the country's largest ironore miner, posted a consolidated revenue in the January-March quarter of FY24.
Some economic sectors trading at ‘euphoric valuations
The Indian stock market is a mix of optimism about the economy and \"euphoria\" that is not linked to fundamentals, said analysts at Kotak Securities ahead of election results on Tuesday.
