Aerospace & Defence
Aerospace & Defence - Equipments
from 1,368 today
We initiate coverage on Indian Defence Sector with a Hold rating on Bharat Dynamics and a target price of Rs 1,360.
Bharat Dynamics reported results ahead of estimates as revenue scale-up commenced with the Akash missile project. We reiterate our Neutral rating with a TP of INR1,270.
Bharat Dynamics reported a strong 1QFY27 beat across revenue and margins, driven by operational leverage and a healthy order book providing multi-year visibility, leading to a maintained BUY rating with an unchanged target price of INR 1,597.
We continue to remain positive on the company's long-term business prospects and maintain our positive stance on the company. We continue to maintain our BUY rating on the stock with a target price of INR 1,597, based on 45x 1HFY29E EPS.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
