India's Krishna Defence surges to over 2-year high after Antique starts with 'buy'

Krishna Defence & Allied Industries

05/10/2026 08:44

** Krishna Defence and Allied Industries KISH.NS shares jump 20%, the exchange-mandated maximum, to 1,201 rupees apiece, their biggest jump in 28 months 
** Rise after Antique Stock Broking initiates coverage of the defence products maker with "buy" and price target of 1,725 rupees, implying an upside of 72%
** Says defence sector is supported by warship pipeline of 45.94 billion rupees ($477.14 million) over the next 10-15 years and KISH stands to gain as it is one of the only two approved vendors across key products
** Forecasts revenue CAGR of 31% over the financial year 2026-2029, supported by the multi-year shipyard order book
** Antique says KISH offers a direct picks-and-shovels exposure to India's naval and commercial shipbuilding cycle
** KISH shares are up 51% in 2026 so far, according to exchange data


($1 = 96.2825 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))