Bharat Dynamics shares have risen 45 percent in the last month.
At about 10:45 am, shares of the company were trading at Rs 1,459, up 5.5 percent from the last close on the NSE.
Bharat Dynamics shares have risen 45 percent in the last month.
Additionally, the split aims to encourage wider participation from small investors and enhance liquidity in the shares.
The brokerage also mentioned that the doubling domestic defence expenditure from FY24 to FY30 will continue driving stock prices higher.
Bharat Dynamics shares have risen 45 percent in the last month.
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Shares of Bharat Dynamics or BDL have been on a roll, extending gains for the massive ten trading sessions until May 28, when shares slipped 7 percent to Rs 1,431 as investors rushed to profits post the stellar rally in the counter.
At about 10:45 am, shares of the company were trading at Rs 1,459, up 5.5 percent from the last close on the NSE. Bharat Dynamics shares have risen 45 percent in the last month.
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BDL recently announced its first-ever stock split, dividing one equity share with a face value of Rs 10 into two shares with a face value of Rs 5 each. The company said that such a move is to comply with the Department of Investment and Public Asset Management's (DIPAM) guidelines on capital restructuring. Additionally, the split aims to encourage wider participation from small investors and enhance liquidity in the shares.
The miniratna PSU is not the sole defence stock witnessing a recent significant surge, benefiting from the 'Make in India' initiative and amidst escalating geopolitical tensions between Russia and Ukraine, as well as in the Middle East, and amidst challenging US-China relations.
Hindustan Aeronautics Limited and Data Patterns India Limited have gained 65 percent and 17 percent in the last three months.
According to a Jefferies report in April, it is believed that India's capital expenditure on defence is likely to maintain the 7-8 percent Compound Annual Growth Rate (CAGR) observed over the last decade. With a focus on indigenization, there could be double-digit growth in domestic defence spending, Jefferies added. The brokerage also mentioned that the doubling domestic defence expenditure from FY24 to FY30 will continue driving stock prices higher.
The company will declare its fiscal fourth quarter results on May 30.
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