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Defence engineering sector: Stocks take a pause, right time to hunt

Defence sector is in a sweet spot as revenue visibility and valuations favour investors

March 15, 2023 / 12:23 PM IST
Defence engineering sector: Stocks take a pause, right time to hunt

Since the kitty of fresh orders is quite high, everyone would get their share of orders and thus boost earnings visibility further. Representational image

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights   Execution suffers marginally due to delays and scarcity of electronics   Order book, at all-time high, provides strong visibility   Companies hopeful of delivering higher growth in the coming quarters   Better execution, improvement in margins to support growth in earnings   After recent correction, stocks valued attractively Stocks of PSU defence engineering companies have been correcting in the last one month. Many of them are now trading at attractive levels, with low valuations and good earnings visibility. On an average, the stocks we...

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