Hot Stocks: Petronet LNG, Data Patterns, Bharat Electronics may deliver 18-20% returnsMoneycontrol • 6 days ago
In terms of levels, immediate resistance for Nifty is noted at 22,900, followed by further resistance at 23,170 and 23,400. Conversely, crucial support levels are identified at 22,500 and 22,300.
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Stocks of most large defence players have seen rapid gains over last five years. For example, HAL has gained over 9x, BEL has gained around 6x and Data Patterns has gained nearly 3x (over the last three years; listed in 2021).
Defence export opportunity could average a 21 percent growth rate in FY23-30. While India’s defence exports rose 16 times in FY17-24 to $3 billion, the brokerage estimates it to reach $7 billion by Fy30
Other buyers in Data Patterns were Kotak Mahindra Mutual Fund and Mirae Asset Mutual Fund
A foreign entity was the seller and the stake was bought by a clutch of foreign and domestic institutional buyers, CNBC-tV18 reported citing sources.