India's Bharat Dynamics extends losses, bucks wider cheer

Bharat Dynamics

05/06/2024 10:58

** Shares of India's Bharat Dynamics  BARA.NS  extend
losses, last down 9.5% at 1,303.4 rupees 
    ** Defence equipment maker set to end session near Tuesday's
level, if trends hold 
    ** BARA closed previous session 10% lower when Indian stock
market witnessed its biggest fall in four years
    ** On Wednesday, company's slump bucks strength in wider
markets, where benchmarks surge on Modi's allies pledging
support to form government  .BO 
    ** BARA among eight red members in 100-constituent Nifty
mid-cap index  .NIFMDCP100 , which is up ~4% 
    ** Analysts caution against capex-linked stocks such as
infra, on worries over policy and reforms continuity after shock
results
    ** YTD BARA has risen 53% vs a ~11% gain in mid-caps gauge 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))