BEL, HAL share price target: Defence stocks under pressure; should you buy or wait? Here's what CLSA says

BEL share price target, HAL share price target, Defence stocks India: Global brokerage CLSA's report stated that the expensive valuation leaves little space for execution error. The brokerage expects the Modi government to continue to walk the talk for defence ‘Make in India’& to execute $43 billion in Indian-made products during FY24. 

BEL share price target 2024

CLSA has downgraded Bharat Electronics to an outperform call from buy earlier. However, the brokerage has raised the target to Rs 294 per share from Rs 207 per share earlier. BEL shares fell 9.99 per cent to the day's low of Rs 230 on the NSE, continuing the declining trend for the third session. 

HAL share price target

CLSA has maintained an outperform rating on Hindustan Aeronautics. The brokerage has raised the target to Rs 4,731 from Rs 3,225. HAL shares declined as much as 9.5 per cent to the day's low of Rs 3,920 on the NSE, continuing the declining trend for the fifth session.

At close, BEL shares closed at Rs 259.7, up 1.62 per cent on NSE, while HAL shares closed at Rs 4,344, up 0.25 per cent on NSE. 

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