BDL Financial News

BDL Capital Management considers the price Prosus offered for Just Eat Takeaway.com to be unfair to minority shareholders, the Paris-based asset manager said in a report on Tuesday. In late February, the Dutch technology investor agreed to buy Just Eat Takeaway for 20.3 euros per share to create a "European tech champion" of food delivery. The price should be 56.1 euros per share based on BDL's fair value calculation, it said in the report published on its website. BDL holds 2.04% in Just Eat Takeaway, according to LSEG data. This price was calculated by analysing enterprise value-to-gross transaction value (EV/GTV) and EV-to-EBITDA multiples in past Just Eat transactions, other transactions in the sector and for listed peers, BDL said.

Bharat Dynamics Ltd (BDL), Bharat Electronics Ltd (BEL), and Astra Microwave Products could advance as much as 31%, ICICI Securities said, reiterating its ‘buy’ ratings on the stocks after the Defence Acquisition Council (DAC) cleared capital acquisition proposals worth Rs 54,000 crore. The brokerage said BDL is likely to benefit directly from the procurement of Varunastra Torpedoes, while BEL and Astra Microwave stand to gain from the Airborne Early Warning & Control (AEW&C) Aircraft Systems order that will boost India’s radar ecosystem.

Bharat Dynamics Ltd (BDL) have recovered by 32% after they made a low of Rs 917 earlier in November 2024, falling from its peak of Rs 1,794.70 made in July 2024. After resuming a northward journey, the stock broke above its downward trendline and started making higher highs and higher lows, taking support on an upward-moving trendline.

Air Force has given clearance to public sector firm Bharat Dynamics Limited for the production of 200 Astra Mark 1 air-to-air missiles. The Astra Mark1 missiles have been developed by the Defence Research and Development Organisation with BDL as its production agency. The production clearance to the BDL was given during a visit by the Indian Air Force Deputy Chief Air Marshal Ashutosh Dixit to Hyderabad recently, Indian Air Force officials said.

Defence stocks like Hindustan Aeronautics, Bharat Dynamics, Bharat Electronics and others are in focus after the government granted an extension in the exemption of customs duty on the imports of certain parts. Initially set to expire on July 1, 2024, the exemption has now been extended for five years, until 2029. So how does it impact the stocks? 

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today - May 18 Bank Nifty is likely to get support at 48,000, followed by 47,800. If the index advances, 48,300 would be the initial key resistance, followed by 48,500, analysts at Choice Broking said.

Dharmesh Shah, Head-Technical, ICICI Direct, says “Reliance is a pure proxy play on oil and gas and telecom. We believe this stock, after witnessing a sharp move from Rs 2,800 to Rs 3,000, has been consolidating in a strong bull candle for a long time. Once things get settled in the market, we should see a primary uptrend for Reliance, where Reliance can be considered for a target of around Rs 3,050, keeping a stop loss of Rs 2,790. Bharat Dynamics has been consolidating for the last five weeks. We remain positive on Reliance and BDL in the near term.” How did the setup look? Did it look like there was a breakdown in the first place or were you already getting a sense that today's dip will be bought? What are you recommending your clients today after looking at the price action that has happened in the first half of the session today? Dharmesh Shah: In the morning, it was a very panic-type situation. The Singapore Nifty opened a gap down of about 300-400 points. Historically, when such events come, once the anxiety settles, the market generally has a tendency to move up. We believe once this anxiety gets over, maybe in a week, things should get settled and 21,700, 21,600, like in last month's low should hold.

Also Read- HAL, BEL, BDL: 4 fundamental factors that keep 2024 outlook firm for Defence PSU With decreasing margin of safety, they have downgraded Dr Reddy's to Underperform Ratings. They have upgraded Torrent to Buy from Hold on attractive valuations relative to peers.

Bharat Electronics (BEL), HAL (Hindustan Aeronautics Limited), Data Patterns, and BDL (Bharat Dynamics). An ‘add’ rating typically suggests that the stocks are recommended for purchase, but investors are advised to exercise some caution. The brokerage expects a steady performance from Data Patterns (+43 percent YoY), BEL (+22 percent YoY), HAL (+9 percent YoY) and BDL (+55 percent YoY) as execution usually picks up in the second half.

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