Bharat Electronics Ltd. (BEL) shares opened higher at ₹298.05, up 1.95% today, as JPMorgan initiated an Overweight rating with a target price of ₹340. This move reflects bullish sentiment on India’s defense sector, which is poised for long-term structural growth.
JPMorgan highlighted BEL as its top pick among defense stocks, citing its leadership in defense production and growing export opportunities. The brokerage also assigned an Overweight rating to Hindustan Aeronautics Ltd. (HAL) with a target price of ₹5,135 and a Neutral rating to Mazagon Dock Shipbuilders at ₹4,248.
The defense sector’s growth is expected to accelerate with increased government contracts, rising export demand, and initiatives under Atmanirbhar Bharat for indigenization. BEL is positioned to benefit significantly from this tailwind, with recent stock corrections providing an attractive opportunity for long-term investors. The stock’s upward momentum underscores market optimism for BEL’s robust future prospects.
