India's defence sector offers compelling investment opportunities, brokerages say

Data Patterns (India)

24/12/2024 09:52

** Multiple growth levers, push for localization, robust
order books make India's defence sector attractive for
investors, say Philip Capital and Nuvama Institutional Equities
    ** Philip Capital maintains positive outlook on country's
defence sector; Bharat Electronics  BAJE.NS , Hindustan
Aeronautics  HIAE.NS  and Data Patterns  DATP.NS  are its
preferred picks
    ** BAJE and HIAE down 0.6% and 0.2%, respectively, DATP up
0.7%
    ** Philip Capital sees 34% upside in BAJE, 31% in HIAE and
32% upside in DATP    
    ** Nuvama says optimistic about India's defence sector on
localisation push to reduce import dependence and continued
modernisation efforts
    ** Expect $130 billion in defence spending in next five
years in India - Nuvama 
    ** Brokerage also selects BAJE and DATP as top picks
    ** BAJE up 59% YTD, HIAE gains 50%, while DATP advances
33.5% YTD

    

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))