Bharat Electronics, Hindustan Aeronautics, Bharat Dynamics and other concentrated defense stocks: Here’s why
Defense stocks Hindustan Aeronautics, Bharat Electronics (BEL), Cochin Shipyard, Mazagon Dock Shipbuilders among others will gain momentum in Wednesday’s (November 4) trade after Zee Business confirmed news that the agency has approved 5 acquisition proposals. about Rs 21,800 crore.
According to reports, the Defense Acquisition Council (DAC) chaired by the Minister of Defense Rajnath Singh on Tuesday (December 3, 2024) approved the proposals for the purchase of five funds including, water jet attack craft, fast interceptor craft, Electronic Warfare Suite (EWS) , the following. -generation radar warning receiver and Advanced Light Helicopters to patrol coastal areas.
In development stocks from the pack rose up to 5 percent with Avantel leading the pack with gains of 4.9 percent followed by Mazagon Dock Ship Builders which also gained about 4.74 percent at the day’s high.
Other gainer stocks were Paras Defense which rose nearly 4 percent to the day’s high of Rs 1,132.4 per share.
Shares you can buy
Zee Business Managing Editor Anil Singhvi gave his buy recommendation for BEL stock futures with a stop loss of Rs 307 with a price target of Rs 317, 322 per share.
He also recommended buying HAL stock futures with a stop loss of Rs 4,480 per share with target price of Rs 4,590, Rs 4,635 and Rs 4,690.
Vikas Sethi-another Zee Business Panelist also recommended buying HAL Futures with a target of Rs 4,600-to maintain a stop loss of Rs 4,100.
