Buy Bharat Dynamics; target of Rs 450: Profitmart Securities

Profitmart Securities research report on Bharat Dynamics

Bharat Dynamics Ltd (BDL) is one of the leading defence PSU in India, incorporated in 1970 and engaged in the manufacture of Surface to Air missiles (SAMs), Anti-Tank Guided Missiles (ATGMs), under water weapons, launchers, countermeasures and test equipment. BDL has 3 manufacturing facilities located in Hyderabad, Bhanur and Vishakhapatnam. It is the sole manufacturer and supplier in India for SAMs, torpedoes, ATGMs to the Indian armed forces. Additionally, BDL is engaged in the business of refurbishment and life extension of missiles manufactured. It is also the co-development partner with DRDO for the next generation of ATGMs and SAMs.

Outlook

Hence we believe that the BDL stock should be purchased at the current price for a price target of around Rs 450 over the next 18 months.

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