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Business Standard
04-07-2025
- Business
- Business Standard
DAC ₹1.05-trn nod spurs defence stocks; Paras, Astra, BEML jump up to 9%
Defence stocks in focus: Shares of defence companies, including Paras Defence, Astra Microwave, and DCX Systems India among others surged up to 10 per cent in intraday trade on the NSE on Friday, July 4, 2025, following fresh procurement approvals by the government. The Nifty India Defence index gained as much as 1.76 per cent, to hit an intraday high of 9,012.60. At 10:51 AM, Nifty India Defence index was trading 1.45 per cent higher at 8,985.30 levels, while the benchmark Nifty50 was flat with a positive bias at 25,417.40. Among the key gainers, Paras Defence rose nearly 9 per cent, Astra Microwave surged 4.79 per cent to ₹1,109, while BEML jumped 4.53 per cent to ₹4,655. DCX Systems climbed 4.15 per cent to ₹288, and GRSE advanced 3.25 per cent to ₹3,038. Cochin Shipyard gained 2.90 per cent at ₹2,073.90, while Mazagon Dock rose 2.41 per cent to ₹3,367. Unimech Aerospace gained 2.27 per cent to ₹1,320, and Mishra Dhatu moved up 2.62 per cent to ₹442.40. Zen Technologies surged 3.41 per cent to ₹1,991.10, and Hindustan Aeronautics Ltd (HAL) inched up 1.43 per cent to ₹5,002. Other stocks included Bharat Dynamics (up 2.45 per cent to ₹2,013.50), Dynamatic Technologies (up 1.08 per cent to ₹7,278), BEL (up 1.44 per cent to ₹432.40). Cyient DLM (up 1.91 per cent at ₹489.30), MTAR Technologies (up 1.83 per cent to ₹1,613.50), Solar Industries (up 1.05 per cent to ₹17,000), and Data Patterns (up 1.97 per cent to ₹3,025.50). The sharp rally came after the Defence Acquisition Council (DAC), headed by Defence Minister Rajnath Singh, approved 10 major capital acquisition proposals on Thursday. The total value of these approvals is estimated at around ₹1.05 trillion, all through indigenous sources. These Acceptance of Necessity (AoN) approvals include procurement of Armoured Recovery Vehicles, an Electronic Warfare System, an Integrated Common Inventory Management System for the Tri-Services, and Surface-to-Air Missiles. The Ministry of Defence stated that the acquisitions aim to 'provide higher mobility, effective air defence, better supply chain management and augment the operational preparedness of the armed forces.' Ravi Singh, SVP of research at Religare Broking, commented, 'The DAC has taken another important step toward boosting India's self-reliance in defence manufacturing. The government's continued focus on manufacturing, along with rising defence budget allocations, is providing strong support to the sector. This creates long-term growth visibility for domestic defence companies, especially those with strong execution in aerospace, electronics, and missile systems.' Defence sector lift-off According to a note by InCred Equities dated June 23, India's defence sector is on the cusp of major transformation, driven by a record-high allocation of ₹6.81 trillion in the 2025–26 Union Budget, accounting for 13 per cent of total central expenditure. Over the past decade, defence spending has grown at a compound annual rate of 9 percent, underscoring a steady rise in investment. A notable 13 per cent increase in capital outlay this year highlights the government's strong focus on modernisation, with funding directed towards advanced weaponry, naval ships, aircraft, research and development, and key border infrastructure. This combination of sustained budgetary support and increased capital investment not only enhances operational capabilities but also fuels domestic innovation and strategic self-reliance, paving the way for long-term technological advancement and structural growth in the sector, analysts at InCred Equities said. Investment strategy On investment strategy, Singh added that investors can consider a buy-on-dips approach, as defence stocks have shown strong upward momentum over the last 3–4 months. He recommends focusing on quality stocks such as BDL, BEL, and HAL, especially those with healthy order books, improving margins, and strong operating leverage. Meanwhile, InCred Equities highlighted HAL as a clear beneficiary of indigenisation, with robust order inflows and strong revenue visibility. BEL, too, remains a top pick with a solid pipeline, proven execution, and rising export potential.
Mint
29-05-2025
- Business
- Mint
Stocks to buy: Expert Raja Venkatraman's recommendations for 29 May
Indian benchmark indices extended losses for a second consecutive session on Wednesday, weighed down by declines in heavyweights like ITC. The Nifty 50 slipped 63 points, or 0.3%, to close at 24,752, while the Sensex shed 240 points, or 0.29%, ending at 81,312. Broader markets, however, outperformed, with the Nifty Smallcap 100 rising 0.33% and the Nifty Midcap 100 ending largely unchanged. Here are two stocks from the mid and small cap space that can be tracked for the next three months: Astra Microwave Ltd (Current market price : ₹1163.70) Astra Microwave Products has delivered a solid financial performance in Q4FY25, showcasing strong growth in the aerospace and defence sector. The last reported numbers indicated that the revenue has now moved to ₹407.85 crore, reflecting a 15.23% year-over-year increase. Astra Microwave maintained an operating margin of 26.60%, demonstrating profitability despite market competition. On a quarter-on-quarter basis, revenue spiked by 57.75%, increasing from ₹258.54 crore in Q3 FY25 to ₹407.85 crore in Q4. Similarly, net income rose 54.94% QoQ, reinforcing financial strength. Another interesting newsflow is that Radhakishan Damani, a well-known investor, has returned to the company, participating in this fundraise, which further highlights the growing appeal of Astra Microwave's market prospects. In addition to financial instruments, Astra Microwave has undergone leadership and board changes, introduced new strategic perspectives while adjusting to evolving industry dynamics. The stock after a sterling performance till May 2024 faced a huge selloff much ahead of the market exhaustion and the profit booking that ensued resulted had undergone a painful scenario in the last set of weeks indicating that the time is challenging. However, the strong decline had erased 50% of the rise seen since March 2023 to some strong set of supports around 600. Around this level, the prices encountered some steady buying interest that held back the decline, push the prices higher. The strong and steady rise that we witnessed backed by buoyant financials and robust participation helped the prices surge higher. Eventually the rise managed to create a fresh new high and the robust participation is indicating a buying opportunity at current and on declines. Currently the strong surge seen in the prices has resulted in the prices doubling from the March lows highlighting the strong recovery seen in this counter. The quick turnaround in the trend of Astra Microwave's share price, signaling strong investor confidence and optimism about future prospects. As we look into the future, Astra Microwave's focus on financial discipline, operational efficiency, and strategic investments will play a crucial role in shaping its future growth trajectory and establishing itself as a leading player in the defence industry. With increasing revenue, profitability improvements, investor confidence, and corporate initiatives, Astra Microwave is positioned for sustained expansion. Considering the current scenario, one should consider buying at current levels and on dips near ₹1070 with a stop below ₹1045 for a rise to ₹ Read: NTPC's project execution delays remain its Achilles heel Glaxo Smithkline Pharma (Current market price: ₹3348.20) GSK, is a global healthcare company specializing in pharmaceuticals, vaccines, and consumer healthcare products. It is one of the world's largest research-based pharmaceutical companies, focused on discovering, developing, manufacturing, and marketing human health products. GlaxoSmithKline has a long history, with its origins in India dating back to 1924. In the last reported numbers of Q4 FY25 GlaxoSmithKline Pharmaceuticals Ltd. (GSK) has demonstrated strong financial performance in, reinforcing its position in the pharmaceutical sector. The company reported a 35% increase in net profit, reaching ₹263 crore, compared to ₹194.48 crore in the same quarter last year. Revenue from operations rose to ₹974.37 crore, reflecting steady growth. GSK's full-year revenue stood at ₹3,723 crore, marking a 9% increase, while profit after tax before exceptional items surged 32% to ₹915 crore. The company also announced a final dividend of ₹42 per equity share, highlighting its commitment to shareholder returns. After a volatile upward trajectory since October 2023 the ride lower from July 2024 was a scary one as the fast-paced decline had no respite and combined with the bearish market forces the trends capitulated. However, since the beginning of 2025 the situation began to improve and the prices also factored the volatility surrounding the Trump Tariff showdown. As things began to clear regarding his stance on Pharma and the implementation of the tariff the resistances began to give away. As seen on the higher timeframe charts , Glaxo demonstrated long body candles highlighting the robust participation. With the momentum too favouring some potential upside the tailwinds in this counter could carry the prices higher. The prices have been witnessing rampant volatility and the swift recovery is definitely a signature of more upside in store. Looking ahead, GSK remains committed to sustained above-market growth, with a focus on innovation and strategic expansion. The company's 100th Annual General Meeting is scheduled for June 27, 2025, where further strategic decisions are expected. With strong financial results, new product launches, and positive investor sentiment, GSK is well-positioned for continued success in the pharmaceutical industry. With robust volumes building up one can consider buying dips near ₹3180, stop ₹3100 target ₹3480-3650. Also Read: LIC's growth perils curb stock's valuation The methodologies and considerations utilised while selecting the candidates. 1. Blending Fundamentals with Technicals: While he emphasizes the importance of technical analysis, Dr. Narayan also acknowledges the role of fundamental analysis in understanding market trends and stock potential. 2. Price Action and Market Psychology: He focuses on price action as a key indicator of market sentiment. By studying price movements, he deciphers the psychology of market participants to predict future trends. 3. Risk Management: A cornerstone of his approach is managing risk effectively. He advocates for the use of stop-loss orders and actively uses Technical Analysis to manage his position sizing to protect capital. Also Read: This luggage leader is staging a turnaround. But can it overcome its baggage? Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
