India's Bharat Dynamics jumps to record high extending seven-week rally

Bharat Dynamics

18/12/2023 07:40

** Shares of defence equipment maker Bharat Dynamics
 BARA.NS  up 6.2% to a record high of 1,479.5 rupees
    ** Stock set for biggest intraday pct gain since July 11
    ** Shares of co up in the past seven weeks, gaining ~44%
during the period
    ** Stock has been above its 100-day simple moving average
since Nov 24, when defence stocks gained on report of govt set
to clear three projects worth 1.4 trln rupees ($16.87 bln)
    ** Trading vol is 2x the 30-day daily avg, tops 2 mln for
the fourth time in Dec
    ** All 5 analysts covering the stock have a "buy" or "strong
buy" rating; median PT is 1,387 rupees - LSEG data
    ** Stock extends YTD gains to ~57%
    ** Stock gained in every year since its listing in March
2018


($1 = 83.0070 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))