Answering investors queries at Daily Calls on BTTV, Kiran Jani, Head of Technical Research as Jainam Broking shared his views on select defence and jewellery stocks.
For the quarter ended December, BEML posted a net loss of Rs 22.38 crore, reversing from a net profit of Rs 24.41 crore recorded in the corresponding quarter last year.
Brokerage firms continue to remain positive on state-run defence player BEML Ltd even as the earthmover player reported a net loss in the December 2025 quarter.
BEML's counter is trading below the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day and 200-day simple moving averages (SMAs).
In a sector note, Nirmal Bang said India's defence allocation has been on a steady upward trajectory and is expected to rise further in the upcoming Union Budget 2026.
PL Capital has 'Hold' rating on BEL and BEML and 'Buy' on HAL. It suggested targets of Rs 407 for BEL, Rs 1,982 for BEML and Rs 5,507 for HAL.
The filing noted that Paras Defence intends to offload its 58.02 per cent equity stake in Ayatti, which comprises 15,20,000 equity shares of face value of Rs 10 each.
BEML share price target: Elara trimmed its target price to Rs 2,700, valuing the stock at 37 times September FY27 estimated earnings, citing a slight delay in the execution of the Vande Bharat sleeper train order in FY26.
Shares of PSU major BEML are oversold on charts with RSI at 25.9 indicating there are more sellers than buyers for the stock.
Nirmal Bang suggested price targets of Rs 470 for BEL, Rs 1,774 for BDL and Rs 6,151 for HAL. It viewed Mazagon Dock at Rs 3,515, BEML at Rs 2,610, Astra Microwave at Rs 1,234 and Data Patterns at Rs 3,653.
Adjusting for the stock split, BEML shares were trading at Rs 2,187.95 apiece, down 0.55 per cent. BEML said the stock split has been executed in line with DIPAM’s capital restructuring guidelines




