Archive · 8 Sep 2026
Analyst Says MTAR Is More Clean Energy Than Defence
An analyst says MTAR may be more of a clean-energy company than a defence company.
He estimates that aero defence contributes only 12% of its business.
Many investors have been interested in MTAR because defence stocks have attracted strong attention.
The analyst believes clean energy and government support could become more important for the company.
He does not suggest buying all the shares at once.
Instead, he recommends buying small portions over time when the price falls.
He considers Rs 6,800 an important support level.
If the stock rises above Rs 8,400, he believes it could move toward Rs 10,400–Rs 11,300.
Analyst Khandelwal said only 12% of MTAR’s business comes from aero defence.
He said MTAR’s larger opportunity may lie in clean energy and government interest.
Khandelwal advised investors to buy gradually rather than invest their full amount at once.
He suggested adding 10–15% of the intended investment on declines of Rs 115–200.
He identified Rs 6,800 as support and Rs 8,400 as the key breakout level, with potential targets of Rs 10,400–Rs 11,300.
- Who
- Analyst Khandelwal and investors considering MTAR.
- What
- Khandelwal assessed MTAR’s business mix and recommended staggered buying of the stock.
- Why
- He believes MTAR’s clean-energy opportunity and government interest may be more important than its relatively small aero-defence business.
Clean-Energy View
Defence-Market View
Primary business opportunity
Clean-Energy View
Khandelwal said MTAR’s larger story could come from clean energy and government interest, since only 12% of its business comes from aero defence.
Defence-Market View
The market has grouped MTAR with defence stocks amid policy support and procurement momentum, potentially emphasizing its defence association over its broader business mix.
Investment approach
Clean-Energy View
Khandelwal recommended phased accumulation, with investors adding 10–15% of their intended investment during declines.
Defence-Market View
Investors following the broader defence-market momentum may be tempted to chase the stock after its sharp run-up, an approach Khandelwal cautioned against.
- Company
- MTAR
- Aero-defence contribution
- 12% of the business, according to Khandelwal
- Suggested strategy
- Buy in stages rather than investing the full amount at once
- Suggested purchase size
- 10–15% of the intended corpus on each Rs 115–200 decline
- Support level
- Rs 6,800
- Breakout level
- Rs 8,400
- Potential upside targets
- Rs 10,400–Rs 11,300