Defence stocks: Nirmal Bang upgrades Paras Defence, downgrades Solar Industries; price targets
Nirmal Bang Institutional Equities has revised its views on Paras Defence and Space Technologies Ltd, upgrading the company to “BUY” with a valuation of 62x FY27E EPS, resulting in a target price of Rs 1,877. This re-evaluation follows significant advancements in their product offerings.
At a recent investor conference, Paras Defence outlined a promising outlook with developments in optical systems in collaboration with Controp Precision, and contracts for advanced avionics. A contract for the Saras-MKII cockpit suite and an anticipated growth in high-power laser systems further underline the potential for an addressable market of Rs 250bn. “The company is expecting promising growth from thehigh-power laser systems in the ground-to-air…
