Bharat Dynamics shares fall 3% amid selling pressure in defence PSUs
Bharat Dynamics shares fell over 3% amid profit booking and broader weakness in defence PSU stocks. Several peers also declined, while select counters saw buying interest. The stock remains under pressure, with weak quarterly earnings and a drop b...
By Shivendra Kumar, ETMarkets.com |
ETMarkets.com
Bharat Dynamics facility as shares decline amid broader selling pressure across defence PSU stocks.
Shares of Bharat Dynamics (BDL) fell over 3% on Monday to hit the day's low of Rs 1,268.30 on the NSE amid selling pressure mostly seen in defence PSU stocks. Investors booked profits today in a sell-on-rise trade following a Friday rally that saw the stock rising 3%.
Other major defence PSU stocks that fell today included Garden Reach Shipbuilders & Engineers (GRSE), Mazagon Dock, Cochin Shipyard and BEML, which fell over 1% each.
Cyient DLM and Zen Technologies were laggards among private defence plays, correcting by more than 1%.
The Nifty India Defence index was down 0.7%. Select stocks witnessed buying action. Dynamatic Technologies, Data Patterns (India), Bharat Forge, Astra Microwave Products and MTAR Technologies gained up to 3%.
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Bharat Dynamics
BDL shares have been under pressure, sliding 16% in the past six months. They have slipped below their 50-day and 200-day simple moving averages (SMAs) of Rs 1,412 and Rs 1,592, respectively, according to Trendlyne. Meanwhile, one-year returns stand at 26%, which is an outperformance over Nifty's 13% returns and BSE Sensex's 11% returns in the same period.
The company reported a weak set of numbers in its October-December quarter of FY26. Its net profit fell 50% to Rs 73 crore in Q3FY26 from Rs 147 crore in the year-ago period. Meanwhile, total turnover plunged 27% to Rs 664 crore versus Rs 917 crore in the corresponding quarter of the last financial year.
Also read: Fading vibes: Internet stocks fall up to 28% so far in 2026. Brokerages back Paytm, Groww, 5 more after Q3
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
Other major defence PSU stocks that fell today included Garden Reach Shipbuilders & Engineers (GRSE), Mazagon Dock, Cochin Shipyard and BEML, which fell over 1% each.
Cyient DLM and Zen Technologies were laggards among private defence plays, correcting by more than 1%.
The Nifty India Defence index was down 0.7%. Select stocks witnessed buying action. Dynamatic Technologies, Data Patterns (India), Bharat Forge, Astra Microwave Products and MTAR Technologies gained up to 3%.
Also read: AU Small Finance Bank shares slide 6% after Haryana govt de-empanels lender
Bharat Dynamics
BDL shares have been under pressure, sliding 16% in the past six months. They have slipped below their 50-day and 200-day simple moving averages (SMAs) of Rs 1,412 and Rs 1,592, respectively, according to Trendlyne. Meanwhile, one-year returns stand at 26%, which is an outperformance over Nifty's 13% returns and BSE Sensex's 11% returns in the same period.
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The company reported a weak set of numbers in its October-December quarter of FY26. Its net profit fell 50% to Rs 73 crore in Q3FY26 from Rs 147 crore in the year-ago period. Meanwhile, total turnover plunged 27% to Rs 664 crore versus Rs 917 crore in the corresponding quarter of the last financial year.
Also read: Fading vibes: Internet stocks fall up to 28% so far in 2026. Brokerages back Paytm, Groww, 5 more after Q3
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
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