Defence stocks to buy for good return - Check target price by brokerage firm ICICI Securities

Best Defence Stock To Buy: Equity benchmark indices declined in early trade on Thursday amid heavy selling in Kotak Mahindra Bank and foreign fund outflows. The 30-share BSE Sensex declined 296.79 points to 73,556.15 and the NSE Nifty dipped 97.15 points to 22,305.25. However, ICIC Securities has stated that defence companies are going to have another good quarter.

"Despite decent returns in FY24, we believe that there is more steam left in the defence stocks," the brokerage firm said.

The brokerage firm has recommended stocks like Solar Industries, Astra Microwave, Azad Engineering and others.

Solar Industries Share Price Target

Brokerage firm ICICI Securities has given a target of Rs 10,950 for Solar Industries. This share was trading at the level of Rs 8810 at the time of writing this report. So far this year, it has given returns of 30 per cent and in six months the company has given a positive return of 70 per cent. The return offered by the company is one year is 130 per cent.

Astra Microwave Share Price Target

The brokerage firm has set a target of Rs 800 for Astra Microwave. Last seen, the share was trading at the level of Rs 716. So far this year, it has given a positive return of 18 per cent. The return offered by the stock in six months is 56 per cent and 175 per cent in 1 year.

Azad Engineering Share Price Target

The shares of Azad Engineering are trading at Rs 1,392.60 and the brokerage firm has set a target of Rs 1,600. Azad Engineering's IPO was launched in December 2023 at Rs 524. Its share was listed at Rs 710. On January 17, it had made an all-time low of Rs 641. So far this year it has given a return of 95 per cent.

Apart from this, the brokerage has also advised buying Bharat Electronics, Bharat Dynamics and Dynamic Technologies.  

Disclaimer: The advice to invest in stocks here has been given by the brokerage house. These are not the views of Zee Business. Consult your advisor before investing.