Hot Stocks 3 August 2024
š„š The defense sector is seeing a strong forward-looking move based on a strong order book. ICICICIC Securities brokerage house has stated in a report that the budget has clearly indicated that the government’s focus will be on defense. A budget allocation of Rs 1.72 lakh crore was made for aircraft and aero engines, marking a 67% increase year-on-year. The government is expected to continue spending in the future to become ‘self-reliant’ in the defense sector. In this scenario, some defense sector stocks may see strong profits in the future.
ICICICIC Securities has included five defense sector stocks in their recommendations: Solar Industries, Ajanta Engineering, Jain Technologies, Dynamic Technologies, and Astra Microwave.
- Ajanta Engineering: ICICICIC Securities has given a buy rating to Ajanta Engineering with a target price of Rs 2,450 per share. The stock closed at Rs 1,626 on July 31, 2024, and could potentially rise by nearly 50% from its current price. The stock has provided a 140% return in the past year.
- Dynamic Technologies: ICICICIC Securities has given a buy rating to Dynamic Technologies. The target price is set at Rs 10,250 per share. The stock closed at Rs 7,115 on July 31, 2024, and could potentially rise by about 44% from its current price. The stock has provided a 65% return in the past year.
- Jain Technologies: ICICICIC Securities has given a buy rating to Jain Technologies with a target price of Rs 2,000 per share. The stock closed at Rs 1,701 on July 31, 2024, and could potentially rise by approximately 18% from its current price. The stock has provided a 170% return in the past year.
- Astra Microwave: ICICICIC Securities has given a buy rating to Astra Microwave. The target price is set at Rs 935 per share. The stock closed at Rs 894 on July 31, 2024, and could potentially rise by nearly 5% from its current price. The stock has provided a 140% return in the past year.
- Solar Industries: ICICICIC Securities has given a buy rating to Solar Industries. The target price is set at Rs 13,250 per share. The stock closed at Rs 10,780 on July 31, 2024, and could potentially rise by approximately 23% from its current price. The stock has provided a 180% return in the past year.
ā¹ļø Invest wisely and keep an eye on these hot stocks in the defense sector for potential growth opportunities!
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.
