India’s defence industry is entering a higher growth phase as combat deployment of indigenous weapons during Operation Sindoor strengthens the credibility of locally made systems in global markets. Jefferies expects defence exports to rise 11% annually through fiscal 2030, reaching Rs 584 billion, and has identified 5 stocks that can potentially perform well in the coming quarters.
Hindustan Aeronautics has a Buy rating from Jefferies, with a target price of Rs 6,800 against a current market price of Rs 4,861, implying 39% upside from the previous closing price.
Bharat Electronics carries a Buy rating, with Jefferies setting a target price of Rs 490 versus the current market price of Rs 408, forecasting an upside potential of 20% from previous price.
Data Patterns has a Buy rating from Jefferies, with a target price of Rs 5,545 compared to CMP of Rs 4,570, translating into 21% upside from the last closing price.
Solar Industries has a Buy rating from Jefferies, with a target price of Rs 28,160 against a current market price of Rs 21,345 as the brokerage sees 32% from the last closing price.