Apr 19, 2017 01:14 PM IST | Source:

Hold Reliance Defence & Engineering; target of Rs 68: ICICI Direct

ICICI Direct recommended hold rating on Reliance Defence & Engineering with a target price of Rs 68 in its research report dated April 13, 2017.

  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Reliance Defence & Engineering

Though there were several announcements of platform/equipment approvals from the ‘Defence Acquisition Council’, the same is not translating into order inflows for defence companies (except DPSUs). Thus, the wait for players like RDEL is only getting longer. In Q4FY17, RDEL secured a contract of Rs 916 crore (MOD) for design and construction of 14 fast patrol vessels for Indian Coast Guard.


We remain cautious for now and value the stock at 3.1x P/BV, arriving at target price of Rs 68. We have a HOLD recommendation on the company.

For all recommendations, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Follow us on
Available On