Buy Bharat Dynamics, target price Rs 440: Yes Securities

Yes Securities has buy call on Bharat Dynamics with a target price of Rs 440. The current market price of Bharat Dynamics Ltd. is Rs 413.

Time period given by analyst is Intra Day when Bharat Dynamics Ltd. price can reach defined target.

Bharat Dynamics Ltd., incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 7572.26 Crore) operating in Defence sector.


Bharat Dynamics Ltd. key Products/Revenue Segments include Engineering Goods, Spares And Others, Other Operating Revenue, Job Work, Sale of services, Miscellaneous and Scrap for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Standalone Total Income of Rs 156.19 Crore, down -86.56 % from last quarter Total Income of Rs 1162.08 Crore and up 149.39 % from last year same quarter Total Income of Rs 62.63 Crore. Company reported net profit after tax of Rs -20.95 Crore in latest quarter.

Investment Rationale
After breaking through the recent minor consolidation phase, the stock is defending levels of 430 on the downside. Sustenance at current levels is likely to continue stock’s on-going journey at multi-year higher zone.


Promoter/FII Holdings
Promoters held 74.93 per cent stake in the company as of 30-Sep-2021, while FIIs owned 1.43 per cent, DIIs 17.56 per cent.