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This Defence Share Ready To Show Strong Growth; Price Will Go Up To ₹812 Anytime

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Defense Stock to Buy: Today, in this post we’ll discuss about Astra Microwave Products latest news, fundamentals, potential growth areas, and all sorts of information regarding this company to gain a better understanding. We hope our analysis will provide you better insight about the company.

There is a tremendous bullish movement in the stocks of Astra Microwave Products Ltd (NSE: ASTRA MICRO) Products, a small-cap company in defense and aerospace. The stock, which has been a multibagger for investors, is once again ready to show strong growth. 

The company recently received a large purchase for a large order from Defense PSU Bharat Electronics (BEL). Based on the strong order book, brokerage firm ICICI Securities has advised to buy Astra Microwave Products (AMP).

This stock has provided investors with strong returns of 180 percent over the past year.

Astra Microwave: Will Touch The Level Of ₹812

A brokerage company has maintained a Buy rating on Astra Microwave (AMP). The price of the share that is to be targeted is set at Rs 812.

On April 2, 2024, the share price closed at Rs 622 with a decline of 0.82 percent. In this manner, the stock could increase by around 29 percent over the current price.

In the last year, this share has given returns of about 180 percent. The stock’s performance over the past six months was 45 percent. Whereas so far this year the stock has registered a rise of about 3 percent.

Astra Microwave: What Is The Brokerage’s Opinion?

The brokerage house says that the outlook of the smallcap defense company looks strong based on large orders. Recently, Astra Microwave received an order worth Rs 386 crore from government defense company Bharat Electronics (BEL). 

In this contract, the company must provide sub-systems to Medium Power Radar (MPR). This order is to be completed in the next 3 years.

The brokerage believes that this order is critical. This is among the largest orders to be received by the company thus far.

Other than that the execution time is short-term. This will bring in around 130-140 crore per year over the next three years.

This is equal to 15-16 percent of FY24E revenue. Since this is a domestic defense order. Therefore, margins are expected to be better. The company expects to get more such orders in the near term.

Disclaimer: The information on this site is only for informational and educational purposes and shouldn’t be considered financial advice or stock recommendations. We are here to provide timely updates about the stock market and financial products to help you make better investment choices.

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