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Mint
a day ago
- Business
- Mint
From GRSE, BDL to BEL— defence stocks shine in H1CY25; what lies ahead? What to buy from the sector? Experts weigh in
Most Indian defence stocks, including Garden Reach Shipbuilders & Engineers (GRSE), Bharat Dynamics (BDL), Mazagon Dock, Bharat Electronics (BEL), Cochin Shipyard and Hindustan Aeronautics (HAL) ended the first half of the calendar year 2025 (H1CY25) with strong gains. The Indian defence sector witnessed strong traction in the first half of the year, as the India-Pakistan conflict brought the country's defence capabilities into global focus, boosting prospects for increased demand in the sector. Shares of Sika Interplant Systems surged 172 per cent in H1CY25, while those of GRSE, Solar Industries, BDL, Apollo Micro Systems and Paras Defence surged 59-86 per cent during the period. A few players from the sector, however, bucked the trend. Shares of Dynamatic Technologies, Zen Technologies and DCX Systems fell 15-21 per cent. Performance of defence stocks in H1CY25. Strong order flow, anticipation of durability of demand amid changing geopolitical scenario and global focus on Indian defence equipment due to their performance and effectiveness are the key factors that shot up defence stocks this year. Navjeet Sobti, Senior Executive Director at Almondz Global Securities, pointed out the robust orderbook of India defence companies, with HAL ( ₹ 1.89 lakh crore), BEL ( ₹ 72,000 crore), Mazagon Dock ( ₹ 32,000 crore), BDL ( ₹ 22,700 crore) and BEML ( ₹ 14,600 crore) among the key players. The defence sector's medium to long-term outlook remains strong amid the prospects of increased demand. There are also expectations that the government may increase the defence budget next year, in light of recent aggression from neighbouring countries such as Pakistan, China, and Bangladesh. Nandish Shah, AVP– PCG Research & Advisory, (Fundamental) Wealth Management, Motilal Oswal Financial Services, expects defence sector orders to remain strong in the coming quarters. Shah pointed out that in the FY26 Budget, defence was allocated ₹ 6.81crore, a 9.5 per cent increase over FY25. Government capex in March and April 2025 showed strong spending on defence, contributing significantly to the highest-ever monthly capital expenditure. After Operation Sindoor, Shah expects the finalisation of emergency procurement pipelines for the defence sector and contracts for large projects in the near term. Shah further underscored that defence companies are eyeing bigger opportunities from exports of larger platforms such as the Akash missile, MRSAM (medium-range surface-to-air missile), and defence control systems, where domestic companies have already established their product quality in the domestic markets. Prashanth Tapse, a senior VP of research at Mehta Equities, too, believes that investor sentiment towards the sector is expected to remain structurally positive in H2CY25. "While short-term valuations may appear stretched in pockets, long-term visibility in revenues and margins for key players justifies a buy-on-dips strategy for patient investors," said Tapse. Ajit Mishra, SVP of research at Religare Broking, pointed out that the recent surge has also introduced valuation risks, and near-term volatility is likely. Mishra says investors must be selective, focusing on companies with strong order books, healthy financials, and proven execution capabilities. "While the rally reflects short-term momentum, the long-term story remains intact, especially as India strengthens its defence posture in an increasingly uncertain regional environment," said Mishra. Shah of Motilal Oswal Financial Services is positive on BEL and HAL. Tapse also chose HAL and BEL as his preferred picks in the sector for an investment horizon of two to three years. He suggests HAL because of reasonable valuations, given its EPS growth potential and expected catalyst, high export orders book, and possible Nifty inclusion in the coming few months. For BEL, Tapse said it is a key player in electronic warfare, radars, command control systems and high-order inflows in the coming months are expected. Sobti of Almondz Global Securities also suggests BEL and HAL for the long term. "BEL, a Navratna DPSU, has a strong orderbook of ₹ 72,000 crore as on FY25, which provides medium to long-term revenue visibility, with management guidance for 15 per cent revenue growth in FY26," Sobti underscored. "HAL boasts a strong order book of ₹ 1.8 lakh crore as of March 31, 2025, along with a promising prospect pipeline of ₹ 6 lakh crore, which is likely to be awarded over the next few years. The orderbook is expected to be executed in the next five to six years," Sobti added. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
Hans India
25-06-2025
- Business
- Hans India
GRSE, Paras Defence & Idea Forge Rally on Robust Charts; Defence stocks breakout signals
India's growing defence manufacturing prowess has been thrust into the spotlight after its successful interception of drone attacks during recent cross-border tensions. This operational success, underpinned by the government's Make in India push, is translating into clear bullish signals across defence stocks. Now more than just strategic bets, defence stocks are gaining momentum as technical breakouts align with strong sectoral fundamentals. In a volatile market landscape, three key names—Garden Reach Shipbuilders & Engineers (GRSE), Paras Defence and Space Technologies, and Idea Forge Technology Ltd—have charted fresh bullish territory, offering appealing risk-reward setups. 1. Garden Reach Shipbuilders & Engineers Ltd (GRSE) A pivotal player in India's naval shipbuilding landscape, GRSE is a state-owned defence PSU building warships and patrol vessels for over 60 years. The company recently broke above ₹2,833, touching a high of ₹3,538. After retesting the breakout zone near ₹2,888—a classic technical move—the stock resumed its uptrend. Technical Insight: Breakout zone: ₹2,833 Retest support: ₹2,888 Resistance breached: New ATH at ₹3,538 Trend view: Bullish as long as it stays above ₹2,800 Strategy: Buy on dips; strong momentum in uncharted price territory 2. Paras Defence and Space Technologies Ltd Paras Defence is a high-tech company in India's defence and space domain, producing optics, defence electronics, and strategic components. With a growing footprint in drone and anti-drone technologies, it is well positioned amid current geopolitical shifts. Technical Setup: The stock broke out of a range near ₹1,600, then retested the level before bouncing back to ₹1,700. Support zone: ₹1,500–₹1,540 Trend: Upward continuation as long as this support holds Setup: Accumulation breakout with momentum return 3. Idea Forge Technology Ltd A leading name in the UAV (drone) space, Idea Forge designs and supplies drones to Indian armed forces and agencies. The company is gaining traction as India emphasizes indigenous drone capabilities. Chart Pattern: Falling channel breakout on the daily chart Emergence of a higher high–higher low formation, per Dow Theory Volume-backed breakout hints at institutional participation Trend: Fresh bullish cycle Action point: Buying interest likely on any dip Defence as an Investment Theme India's defence sector is undergoing a structural shift. With the government driving self-reliance, boosting exports, and encouraging private innovation, this sector could offer long-term wealth creation opportunities. While the near-term rallies in GRSE, Paras Defence, and Idea Forge are technically significant, the broader narrative suggests this could be just the beginning of a multi-year megatrend. Smart investors may consider dips as accumulation zones, but always with disciplined risk management. Disclaimer: This article is for educational and informational purposes only and does not constitute investment advice or recommendations. Please consult your financial advisor before making any investment decisions.
News18
24-06-2025
- Business
- News18
Ideaforge, GRSE: Defence Stocks Dip Up To 6% As Iran-Israel Ceasefire Triggers Profit Booking
Last Updated: After a strong rally in recent sessions, shares of Indian defence companies, including GRSE and Ideaforge, declined by as much as 6.4% Defence Stocks: After a strong rally in recent sessions, shares of Indian defence companies, including Garden Reach Shipbuilders & Engineers (GRSE) and Ideaforge, declined by as much as 6.4% on Tuesday amid profit booking, following the easing of geopolitical tensions between Iran and Israel. The sell-off came after both countries confirmed a ceasefire, announced by US President Donald Trump. Leading the losses, GRSE shares dropped 6.4% to an intraday low of Rs 3,270. Paras Defence and Space Technologies also witnessed a steep fall, slipping 4.6% to Rs 1,654.45. Bharat Dynamics Ltd (BDL) shares fell 3.8% to Rs 1,856.80, while Cochin Shipyard declined 2.8% to Rs 2,167.70. Ideaforge Technology shares were down 2.3%, hitting a low of ₹617.05. Shares of Hindustan Aeronautics Ltd (HAL) declined 2.2% to Rs 4,912.10. Mazagon Dock Shipbuilders also slipped 2.2% to Rs 3,267.80. Meanwhile, Bharat Electronics Ltd (BEL) remained comparatively resilient, dipping just 0.9% to Rs 417.10 at its day's low. The correction in defence stocks followed a period of strong gains amid heightened tensions in the Middle East. However, with US President Trump's early Tuesday announcement of a ceasefire between Israel and Iran, profit booking kicked in across the sector. The ceasefire came after President Trump authorised airstrikes over the weekend on three major Iranian nuclear facilities, escalating conflict in the region. In response, Iranian state media reported a missile attack on a US base in Qatar, with a retaliation that matched the number of bombs dropped by the US—signalling a 'bomb-for-bomb" stance. First Published:
Economic Times
24-06-2025
- Business
- Economic Times
Ideaforge, GRSE among other defence stocks slide up to 6% amid profit booking as Iran, Israel announce ceasefire
After an impressive surge in the past few trading sessions, shares of defence companies like Garden Reach Shipbuilders & Engineers (GRSE) and Ideaforge, among others, tanked up to 6.4% on Tuesday on the back of profit booking after Iran and Israel war tensions eased. Both countries confirmed a truce following US President Donald Trump's announcement of a ceasefire. ADVERTISEMENT Garden Reach Shipbuilders & Engineers (GRSE) shares led the fall, touching an intraday low of Rs 3,270, down 6.4% from the previous close. Paras Defence and Space Technologies shares also saw a sharp dip, hitting Rs 1,654.45, a fall of 4.6%. Bharat Dynamics Ltd (BDL) shares dropped to Rs 1,856.80, marking a decline of 3.8%, while Cochin Shipyard shares slipped 2.8% to a low of Rs 2,167.70. The Ideaforge Technology stock touched Rs 617.05, down 2.3%, and the shares of Hindustan Aeronautics Ltd (HAL) fell 2.2% to Rs 4,912.10. Mazagon Dock Shipbuilders shares also edged lower by 2.2%, reaching Rs 3,267.80. Meanwhile, Bharat Electronics Ltd (BEL) stock was relatively resilient, with its day's low at Rs 417.10, reflecting a marginal decline of 0.9%. Defence stocks in India experienced some profit booking from elevated levels following an announcement by US President Donald Trump regarding a ceasefire between Israel and Iran, made in the early hours of Tuesday, June 24. Also read: BPCL, HPCL and other OMC stocks rally up to 5% as crude falls below $70/bbl ADVERTISEMENT Over the weekend, President Donald Trump authorised air strikes on three Iranian nuclear sites, sharply escalating regional tensions. In retaliation, Iranian state media reported a missile attack on a U.S. base in Qatar, mirroring the number of bombs dropped by the U.S. and signalling a "bomb-for-bomb" approach.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
24-06-2025
- Business
- Time of India
Ideaforge, GRSE among other defence stocks slide up to 6% amid profit booking as Iran, Israel announce ceasefire
Share prices of Defence companies GRSE, Ideaforge, BDL, and Paras Defence fell sharply on Tuesday amid profit booking after US President Donald Trump announced a ceasefire between Iran and Israel. The easing of geopolitical tensions led investors to lock in gains following recent rallies in India's defence sector stocks. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads After an impressive surge in the past few trading sessions, shares of defence companies like Garden Reach Shipbuilders & Engineers (GRSE) and Ideaforge, among others, tanked up to 6.4% on Tuesday on the back of profit booking after Iran and Israel war tensions eased. Both countries confirmed a truce following US President Donald Trump's announcement of a Reach Shipbuilders & Engineers (GRSE) shares led the fall, touching an intraday low of Rs 3,270, down 6.4% from the previous close. Paras Defence and Space Technologies shares also saw a sharp dip, hitting Rs 1,654.45, a fall of 4.6%. Bharat Dynamics Ltd (BDL) shares dropped to Rs 1,856.80, marking a decline of 3.8%, while Cochin Shipyard shares slipped 2.8% to a low of Rs 2,167.70. The Ideaforge Technology stock touched Rs 617.05, down 2.3%, and the shares of Hindustan Aeronautics Ltd (HAL) fell 2.2% to Rs 4,912.10. Mazagon Dock Shipbuilders shares also edged lower by 2.2%, reaching Rs 3,267.80. Meanwhile, Bharat Electronics Ltd (BEL) stock was relatively resilient, with its day's low at Rs 417.10, reflecting a marginal decline of 0.9%. Defence stocks in India experienced some profit booking from elevated levels following an announcement by US President Donald Trump regarding a ceasefire between Israel and Iran, made in the early hours of Tuesday, June the weekend, President Donald Trump authorised air strikes on three Iranian nuclear sites, sharply escalating regional tensions. In retaliation, Iranian state media reported a missile attack on a U.S. base in Qatar, mirroring the number of bombs dropped by the U.S. and signalling a "bomb-for-bomb" approach.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
