The focus of Modi 3.0 is likely to continue on developing the country’s public infrastructure, such as roads, water, metro, railways, defence, digital infrastructure, and green technologies, according to Axis Securities.
Shares of Shares of Hindustan Aeronautics (HAL), Bharat Dynamics (BDL), Bharat Electronics (BEL), and BEML rose up to nearly 10 percent to hit all-time highs on June 3 after exit polls showed a policy continuity by the incumbent government.
The focus of Modi 3.0 is likely to continue on developing the country’s public infrastructure, such as roads, water, metro, railways, defence, digital infrastructure, and green technologies, according to Axis Securities.
Shares of Bharat Electronics surged over 9 percent to hit a fresh record high of Rs 323 on NSE.
BEML also surged over 9 percent to hit an all-time high of Rs 4,800 on NSE.
The focus of Modi 3.0 is likely to continue on developing the country’s public infrastructure, such as roads, water, metro, railways, defence, digital infrastructure, and green technologies, according to Axis Securities.
Shares of Shares of Hindustan Aeronautics (HAL), Bharat Dynamics (BDL), Bharat Electronics (BEL), and BEML rose up to nearly 10 percent to hit all-time highs on June 3 after exit polls showed a policy continuity by the incumbent government.
The estimates of most exit poll suggest a solid win for the NDA, surpassing the 350+mark and BJP with 300+ mark and with better traction for the BJP in skeptical states.
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If the actual election results are in line with the exit polls, it will be the first time since the 1960s that an incumbent Prime Minister will return to power for a third consecutive term with a comfortable majority.
The focus of Modi 3.0 is likely to continue on developing the country’s public infrastructure, such as roads, water, metro, railways, defence, digital infrastructure, and green technologies, according to Axis Securities.
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Kotak Institutional Equities echoed the same stating that government will continue its focus on key areas such as defense, railways, roads and manufacturing. Hence, several defence stocks climbed in trade.
HAL stock rose as much as 9.45 percent during the day to hit a record high of Rs 5,444 apiece on the National Stock Exchange (NSE). The stock delivered stellar returns of around 88 percent so far this year. In the last one year, the multibagger stock has rallied 180 percent, nearly tripling investors' money.
Out of 16 analysts tracking the company, 14 have a 'buy' rating on the stock, one recommends a 'hold' and another suggests 'sell', according to Bloomberg.
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Bharat Dynamics' stock rose as much as 6.7 percent during the day to Rs 1,662.95 apiece on NSE. The counter has risen 88% on a year-to-date (YTD) basis and 187.28 percent in the last 1 year. Seven out of the 10 analysts tracking the company have a 'buy' rating on the stock, one recommends a 'hold' and two suggest 'sell,' according to Bloomberg data.
Shares of Bharat Electronics surged over 9 percent to hit a fresh record high of Rs 323 on NSE. BEML also surged over 9 percent to hit an all-time high of Rs 4,800 on NSE.
Also Read | PSU shares on fire, take key indices to record high as exit polls hint policy continuity
Other defence stocks including Paras Defence, Solar Industries, Mazagon Dock, MTAR Technologies, Cochin Shipyard, Bharat Forge, Avantel, Garden Reach Shipbuilders & Engineers and Astra Microwave Products also gained around 7 percent intraday.
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