Page 8 - Data Patterns News Today

The Nifty Smallcap index gained 7.10 percent in the past one week, turning out to be one of the top performing indices during the week

IREDA shares settled at Rs 158.35 on Thursday, rising 0.75 per cent for the day. The total market captialisation of the company stood more than Rs 42,500 crore for the day.

BELs stock surged, doubling wealth. Experts advise caution, suggest strategies for traders. Elliott Wave Theory predicts rally continuation. Monitoring RSI and MACD crucial for investment decisions.

Private sector companies in India have played a significant role in the countrys defence production, contributing Rs 16,411 crore in fiscal year 2023-24, marking the highest share since 2016-17. Despite a decrease from the previous year, this contribution accounted for 22 per cent of the total defence production of Rs 74,739 crore. The governments push for local defence production, record high defence exports, and investments in defence corridors in Uttar Pradesh and Tamil Nadu aim to boost dome...

Indias Make in India defence production success story is evident in record-breaking defence exports, reaching Rs 21,083 crore in 2023-24, a growth of 32.5% from the previous fiscal. With a focus on indigenisation, India aims to triple annual defence production by 2028-29 and double defence exports to Rs 50,000 crore.

With zero debt and comfortable working capital position, Bharat Electronics is well-placed to benefit from the defence opportunity, Jefferies said. Global OEM tie-ups not giving a material benefit is seen as a key risk for the HAL stock.

Indias domestic defence expenditure is expected to double from FY24E-30E, shaping the sector significantly. Jefferies forecasts a 13% industry CAGR from FY23 to FY30, with an estimated domestic defence opportunity of USD 100-120 billion. The focus on indigenization and export defence opportunities suggests robust growth potential. Leading players like Data Patterns and HAL are poised for significant revenue growth, endorsed with Buy ratings.

Manav Chopra, from Nuvama Institutional Equities, foresees bullish trends in metals, defence, power, and mid-tier PSU banks. Bank Nifty support levels, IT sector basing out, and strong performances in Karur Vysya Bank, BSE, and metals sector are notable. Chopra further says: "It seems the bull market is here to stay and eventually , we expect the midcap 100 to rally towards sub-58,000 levels and for the smallcaps, we have a target of close to 18,000 levels."

Top brokerage firms like Citigroup, CLSA, Macquarie, and Jefferies provide buy ratings and target prices for Adani Ports, D-Mart, AB Capital, and BEL.

Stocks of most large defence players have seen rapid gains over last five years. For example, HAL has gained over 9x, BEL has gained around 6x and Data Patterns has gained nearly 3x (over the last three years; listed in 2021).