BEL, Data Patterns shares gain up to 26% in 2026 so far; JM Financial’s Ashish Chaturmohta sees defence rally intact
"With the geopolitical uncertainty which we are witnessing, no country would like to remain unprepared," Chaturmohta explained, adding that this global climate makes the positioning for defence look promising.
- Mar 18, 2026,
- Updated Mar 18, 2026 10:15 AM IST
Defence stocks such as Data Patterns (India) Ltd and Bharat Electronics Ltd (BEL) continued their uptrend in 2026, delivering decent returns so far this year.
In an interaction with Business Today, Ashish Chaturmohta, Managing Director at JM Financial, said that the defence stocks continue to rally. "Yes, little expensive from a PE perspective if you look at from a one-year level perspective," he said.
However, he pointed out that spending on defence is not discretionary in nature.
"With the geopolitical uncertainty which we are witnessing, no country would like to remain unprepared," Chaturmohta explained, adding that this global climate makes the positioning for defence look promising.
He said that while defence companies are currently sitting on a huge order book, noting that execution will take time.
Chaturmohta highlighted both Data Patterns and BEL as promising bets in the larger-cap space, backing them for the kind of execution capability they have, proven.
On the bourses, Data Patterns surged nearly 26% in 2026. At 10:00 am on the BSE, the stock was trading 0.71% lower at Rs 3276.85 per share.
According to Trendlyne data, the Data Patterns is trading above its 5-, 20-, 30-, 50-, 100-, and 200-day simple moving averages (SMAs), though it rests just below its short-term 10-day SMA.
Similarly, BEL has gained nearly 10% since the start of the year. The stock was trading up 1.15% at Rs 444.70. Trendlyne statistics showed the stock is currently trading below their 10-, 20-, and 30-day SMAs, but remains comfortably above their 5-, 50-, 100-, 150-, and 200-day moving averages.
Meanwhile, Solar Industries India Ltd has rallied over 14% this year, despite a minor dip of 0.20% to Rs 14,002 at last check on Wednesday. Chaturmohta picked, staying that "stocks like Solar Industries are the opportunities which we like within the defence basket as well."
Defence stocks such as Data Patterns (India) Ltd and Bharat Electronics Ltd (BEL) continued their uptrend in 2026, delivering decent returns so far this year.
In an interaction with Business Today, Ashish Chaturmohta, Managing Director at JM Financial, said that the defence stocks continue to rally. "Yes, little expensive from a PE perspective if you look at from a one-year level perspective," he said.
However, he pointed out that spending on defence is not discretionary in nature.
"With the geopolitical uncertainty which we are witnessing, no country would like to remain unprepared," Chaturmohta explained, adding that this global climate makes the positioning for defence look promising.
He said that while defence companies are currently sitting on a huge order book, noting that execution will take time.
Chaturmohta highlighted both Data Patterns and BEL as promising bets in the larger-cap space, backing them for the kind of execution capability they have, proven.
On the bourses, Data Patterns surged nearly 26% in 2026. At 10:00 am on the BSE, the stock was trading 0.71% lower at Rs 3276.85 per share.
According to Trendlyne data, the Data Patterns is trading above its 5-, 20-, 30-, 50-, 100-, and 200-day simple moving averages (SMAs), though it rests just below its short-term 10-day SMA.
Similarly, BEL has gained nearly 10% since the start of the year. The stock was trading up 1.15% at Rs 444.70. Trendlyne statistics showed the stock is currently trading below their 10-, 20-, and 30-day SMAs, but remains comfortably above their 5-, 50-, 100-, 150-, and 200-day moving averages.
Meanwhile, Solar Industries India Ltd has rallied over 14% this year, despite a minor dip of 0.20% to Rs 14,002 at last check on Wednesday. Chaturmohta picked, staying that "stocks like Solar Industries are the opportunities which we like within the defence basket as well."