Bharat Dynamics Ltd., incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 6775.91 Crore) operating in Defence sector.
Financials
For the quarter ended 31-12-2020, the company reported a Standalone Total Income of Rs 513.85 Crore, up 78.69 % from last quarter Total Income of Rs 287.57 Crore and down -5.15 % from last year same quarter Total Income of Rs 541.75 Crore. Company reported net profit after tax of Rs 49.19 Crore in latest quarter.
Investment Rationale
Based on the above technical observations, the brokerage expects the stock to continue with its current positive momentum and head towards Rs 410 levels as it the confluence of the upper band of the rising channel in place since October 2020 and 61.8% retracement of the previous major decline (Rs 481 to Rs 280).
Promoter/FII Holdings
Promoters held 74.93 per cent stake in the company as of Dec 31, 2020, while FIIs held 0.12 per cent, DIIs 17.77 and public and others 7.18 per cent.
