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Nirmal Bang Report
Meteoric rise in returns by Defence stocks in our estimate coverage
The defence stocks within our coverage universe have delivered 58% returns in the last three months, 75% returns in the last six months, 148% returns in the last 12 months and 776% returns in the last three years, buoyed by healthy order books, revenue expansion and the government’s major push for indigenization in the Defence sector.
Most stocks have delivered supernormal returns since our initiation. The stocks have delivered phenomenal returns in the last three months:
Astra Microwave Products Ltd. – 43%, Bharat Dynamics Ltd. – 76%, Bharat Electronics Ltd. – 43%, Bharat Earth Movers Ltd. – 46%, Data Patterns (India) Ltd. – 17%, Hindustan Aeronautics Ltd. – 42%, Mazagon Dock Shipbuilders Ltd. – 136% and Paras defence & Space Technologies Ltd. – 92%.
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