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In the fiscal year 2023-24, BEL successfully secured orders worth around Rs 35,000 crore. With this, the total order book of BEL as on April 1st, 2024, stands at around Rs 76000 crore.
India's 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.
Deven Choksey favours the Adani group for 2024, citing their strong EBITDA growth, reduced debt ratio, and cash generation for expansion, especially in infrastructure assets like road, port, power, and commodity segments. The equations are favourable even from the timing point of view. The Adani Group is going to perform better going forward.
The stock quoted a 52-week high price of Rs 221.4 and a 52-week low of Rs 95.3.
Stoxbox recommends taking a long position in 212.50 CE above 9.50, keeping 4 as an immediate support and targeting 20 and 24 as profit levels