Ahead of Diwali, PL Capital has recommended eight stocks across sectors including defence, PSUs and financials for Samvat 2083 .The brokerage expects these companies to deliver superior earnings growth and create long-term wealth amid improving domestic demand, government-led capex and favorable sector dynamics.
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PL Capital Report
With Dhanteras today and Diwali around the corner, the brokerage firm PL Capital has unveiled a basket of eight stock ideas spanning defence, PSU, financial services, industrials and consumption sectors including Bharat Electronics, ICICI Bank, Britannia Industries, Shriram Finance, Blue Star, CESC, Delhivery and Ingersoll-Rand (India) from large and mid-cap sector.
The brokerage expects these companies to deliver superior earnings growth and create long-term wealth amid improving domestic demand, government-led capex and favorable sector dynamics.
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Here are the eight recommended stocks
Bharat Electronics | CMP: Rs 395 | Target Price: Rs 490 | MCap: Rs 2,888.1 Billion
Investment Rationale:
Bharat Electronics has a strong order book of Rs 68,720 crore (2.3x TTM sales), providing healthy execution visibility. Key programs, including Electronic Fuses, LCA MK1A, LR-SAM, BMP-2 upgrades, Ashwini Radar and EW Suites for Mi-17, account for ~Rs 17,600 crore. The ~Rs 20,000 crore NGC opportunity is expected to translate into staggered orders from GSL and GRSE, largely by FY27-end.
QRSAM orders (Rs 30,000 crore) are expected shortly, with BEL well positioned to retaining its role given its decade-long development experience. Other prospects, including Shatrughat, Samaghat and HAMMER, along with P-75I (potentially deferred to FY28), provide further order pipeline visibility.
BEL and L&T have formed a 50:50 consortium for AMCA, with technical evaluation expected over the next two-three months and the price bid potentially opening before FY27-end, providing additional optionality. Traction in drones and counter-drone systems is increasing, with larger orders expected over the next 1-2 years.
Missile electronics, seekers, electronic warfare and cybersecurity remain key medium-to-long-term growth drivers.
PL Capital expects BEL to deliver Revenue / EBITDA / PAT CAGR of 16.3% / 16.4% / 16.7% over FY26-29E.
Click on the attachment to read the full report:
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