Bharat Dynamics Share Price Soars with Strong Order Pipeline

📈 The December quarter results season has come to an end, and most companies have reported better-than-expected results for the October-December quarter. Following this decision, brokerage house ICICI Direct has recommended buying shares of government defense company Bharat Dynamics, which could potentially yield investors an 18% long-term return.

🔍 ICICI Direct stated in their report that Bharat Dynamics has a strong order pipeline and is a key player in the country’s defense PSU sector. The company is involved in the manufacturing of missiles, anti-tank guided missiles, air-to-air missiles, underwater weapons, launchers, and take-off equipment.

💰 The company has seen revenue and net profit increase at CAGR rates of 14.1% and 16.9% respectively. It is estimated to receive a surplus of Rs. 20,000 crores from these orders.

📉 On Tuesday (February 20, 2024), the share was trading at Rs. 1,745, down 1.04%. ICICI Direct believes the company still has a surplus of Rs. 20,000 crores and a large order book, including various types of missiles such as Akash NG, Quick Reaction, and Vertical Launch Short Range, and ATGM.

🚀 With a strong business outlook, ICICI Direct has advised investing in Bharat Dynamics at a target price of Rs. 2010 per share, with the potential to earn an 18% return.

📊 The stock’s 52-week high is Rs. 1,937.95 and the low is Rs. 804.95, with a market capitalization of Rs. 31,333.76 crores. Bharat Dynamics has given a 90% return in one year, 55% in three months, and 50% in six months, making it a multi-bagger stock with a 400% return in the last three years.


Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.

Serving "जहाँ Indian वहाँ India" Since 2014. I Started News Desk in Early Days of India Internet Revolution and 4G. I write About India for Indians.

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