Two aerospace and defence stocks are recommended to buy on April 24 for hedging short-term gains. The two stocks are multi-baggers and smallcap in their field, with returns ranging from 100% to 400% over the years. These two are MTAR Technologies and PSU giant MIDHANI.
MTAR Technologies Share Price:
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher has liked MTAR for intraday picks. The analyst has suggested buying for a target price of Rs 1,980 with a stop loss of Rs 1,830. The key is to buy on April 24 to hedge the expected returns.
By the end of Tuesday's trading session, MTAR's share price stood at Rs 1866.55 apiece, up by 4.10% with a market cap of Rs 5,741.43 crore. The stock's 52-week high and low is at Rs 2,920 and Rs 1,580 apiece respectively.
Despite the latest upside, MTAR shares are down by over 15% on BSE year-to-date. In a year, the stock however has inched up by 7.8%. In 5-years, the stock jumped by 84%.
Since its inception in 1970, MTAR has grown into a major group with state-of-the-art facilities and with unparalleled history of contributing to the Indian Civilian Nuclear Power program, Indian Space program, Indian Defence, Global Defence, as well as Global Clean Energy sectors.
MIDHANI Share Price:
This defence PSU is also recommended to be bought on April 24 by Koothupalakkal. The analyst recommends a target price of Rs 464 apiece with a stop loss of Rs 426 apiece.
On BSE, Mishra Dhatu Nigam Ltd (MIDHANI) share price stood at Rs 436.35 apiece, up by 4.63% on April 23 with a market cap of Rs 8,174.58 crore. The stock's 52-week high and low is at Rs 547.45 and Rs 189.50 apiece.
YTD, the stock is up by 5%. In a year, however, MIDHANI emerges as a multi-bagger with gains of a whopping 127%. 5-year gain is even more robust to the tune of 226%. At maximum, the stock's all-time gains are around 383.49% so far.
Mishra Dhatu Nigam Limited (abbreviated as MIDHANI), is a specialized metals and metal alloys manufacturing facility in India, located in Hyderabad, Telangana. It is a Public Sector Undertaking (PSU), under the administrative control of Department of Defence Production, Ministry of Defence, Government of India.
Defence Sector Outlook:
As per IBEF data, India has the world's third-largest defence expenditure, as of 2021, and expects to export equipment worth US$ 15 billion by 2026.
India is one of the strongest military forces in the world and holds a place of strategic importance for the Indian government. The top three largest market segments of the Indian defence sector are military fixed wing, naval vessels and surface combatants, and missiles and missile defence systems. Military rotorcraft, submarines, artillery, tactical communications, electronic warfare, and military land vehicles are some of the other well-known segments, it said.
Disclaimer: The recommendations made above are by market analysts and are not advised by either the author nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
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