3 weeks ago
Antique reiterates BUY on HAL, BEL, Mazagon Dock shares
Some companies in India make things for the military, like airplanes, submarines, and electronics.
A smart money expert called Antique thinks these companies are a good bet.
They believe the government will place big orders soon.
One order is for submarines and is worth about 90,000 crore rupees.
Another is for a missile system and is worth about 30,000 crore rupees.
There is also a program for new warships worth about 33,000 crore rupees.
Because of tensions between countries, many nations around the world want more defence equipment.
This means companies like HAL, BEL, and Mazagon Dock may stay very busy for the next five to seven years.
The expert says investors should buy shares in these companies.
Antique Stock Broking reiterates BUY ratings on HAL, Mazagon Dock (MDL), and BEL, citing a robust defence ordering pipeline for FY26-27.
Expected marquee orders include the Rs 90,000 crore P75I submarine program, the Rs 30,000 crore QRSAM system, and the Rs 33,000 crore Next-Generation Corvette (NGC) program.
The orders are expected to be awarded to MDL, BEL, and Garden Reach (GRSE) respectively, while BDL is expected to supply missiles worth Rs 10,000-12,000 crore for QRSAM.
BEL is expected to secure orders for Combat Management Systems (CMS) for both the NGC and P75I programs.
Antique set target prices of Rs 6,026 for HAL, Rs 532 for BEL, Rs 3,275 for Mazagon Dock, Rs 1,597 for BDL, Rs 21,408 for Solar Industries, Rs 24,415 for PTC Industries, and Rs 2,000 for Zen Technologies.
- Who
- Antique Stock Broking analysts and Indian defence companies including HAL, BEL, Mazagon Dock, BDL, and Garden Reach (GRSE)
- What
- Antique reiterated BUY ratings and issued target prices while expecting large defence orders such as the P75I submarines, QRSAM, and Next-Generation Corvettes
- Where
- India, with global demand across Europe, Asia, and the Middle East
- When
- Orders are expected for FY26-27, with sustained demand visibility for the next 5-7 years
- Why
- A robust ordering pipeline, heightened geopolitical tensions, and global replenishment cycles are driving defence demand
Key facts
- Brokerage
- Antique Stock Broking
- Ratings
- BUY on HAL, MDL, and BEL
- P75I submarine program
- Rs 90,000 crore
- QRSAM system
- Rs 30,000 crore
- Next-Generation Corvette program
- Rs 33,000 crore
- BDL missile supplies for QRSAM
- Rs 10,000-12,000 crore
- Key target prices
- HAL Rs 6,026; BEL Rs 532; Mazagon Dock Rs 3,275; BDL Rs 1,597
- Demand visibility
- Next 5-7 years
Quotes
Antique
Analyst at a financial firm
“"We believe that ordering pipeline for FY26-27 remains robust and reiterate BUY on HAL, MDL, and BEL,"”
businesstoday.in
Sources
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