India's defence stocks gain; Jefferies upbeat on growth prospects

Data Patterns (India)

02/04/2024 07:26

** Shares of Data Patterns  DATP.NS  rise 5.3%, Bharat
Electronics  BAJE.NS  up 4.5% while Hindustan Aeronautics
 HIAE.NS  gains 0.7%
    ** Doubling of domestic defence spend between FY 2024 and FY
2030 to continue to aid cos, analysts at Jefferies say
    ** Expect defence exports to rise 21% to $7 bln by FY30, in
line with the government target - Jefferies
    ** Brokerage expects Data Patterns to see five-fold growth
in revenue over FY24-30 as export pipeline benefits co
    ** DATP top gainer on Nifty Smallcap 100 Index  .NIFSMCP100 
    ** Jefferies initiates coverage on HIAE and DATP with "buy",
reiterates "buy" on BAJE
    

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))