HSBC initiates coverage of Indian defence stocks
BUZZ-HSBC initiates coverage of Indian defence stocks ** HSBC initiates coverage of India's defence stocks, betting on higher defence spending
** Brokerage estimates defence capital spending in fiscal 2037 to be 2.8 to 3.9 times higher than fiscal 2027
** Sees growth in India driven by higher capital spending, increased domestic manufacturing and increasing export growth
** "We expect order books to continue to expand and allow Indian defence companies to remain among the most profitable globally" - HSBC
** Initiaties coverage on stocks with the following rating:
Rating | Stocks |
Buy | Hindustan Aeronautics HIAE.NS and Bharat Electronics BAJE.NS |
Hold | Solar Industries SLIN.NS, Astra Microwave ASTM.NS, Data Patterns DATP.NS, Bharat Dynamics BARA.NS |
Reduce | Mazagon Dock Shipbuilders MAZG.NS |
** Shares of HIAE, SLIN, ASTM, DATP, BARA and MAZG down about 1% to 4% on Wednesday
** YTD Nifty Defence Index .NIFTYINDDEFENCE up 16.97% vs Nifty .NSEI down 11.08%, as per LSEG-compiled data
(Reporting by Aishwarya Jain in Bengaluru)
((Aishwarya.Jain@thomsonreuters.com;))
Recent news on Bharat Dynamics
See all newsBrief: Bharat Dynamics Says Bdl Signs Contract For Heavyweight Torpedoes Valued At 13.07 Billion Rupees Plus Taxes
Brief: India Government Inks 41.06 Billion Rupees Contracts For GSAT-7C Communication Satellite, Varunastra Heavy Weight Torpedoes
India's Bharat Dynamics gains after $85 million order from Defence Ministry
Brief: India Govt Says Defence Ministry Signs 8.11 Billion Rupees Order With Bharat Dynamics For Anti Airfield Weapons For Air Force
HSBC initiates coverage of Indian defence stocks