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HAL-GE Fighter Jet

Hindustan Aeronautics jumped 4% higher at the bourses on Monday following the company&#8217;s second-quarter results where the firm&#8217;s net profit was seen jumping by 22%.



What Happened: The aerospace and defence company&#8217;s <a href="https://in.benzinga.com/news/earnings/24/11/41963672/hal-q2-net-profit-jumps-22-to-1-510-cr-beats-estimates">net profit for the quarter</a> under review stood at ₹1,510.4 crore, ahead of the street&#8217;s estimates. Revenue from operations came in at ₹5,976.29 crore, a 6% increase&nbsp;year-on-year, below the analysts&#8217; estimates.



CLSA has an &#8220;outperform&#8221; rating on HAL with a target price of ₹4,731. Despite delays in Russian aircraft and helicopter orders, HAL&#8217;s order pipeline for the next decade remains strong at $45 billion (₹3.8 lakh crore), it said. 



The brokerage sees an expected order of large helicopters and Sukhoi aircraft in the second half of FY25, along with visibility on the GE engine deal as the major catalysts in the firm&#8217;s growth.



See Also: <a href="https://in.benzinga.com/markets/equities/24/11/42028604/ev-prices-may-not-drop-further-due-to-stabilising-battery-costs-says-tata-motors-md">EV Prices May Not Drop Further Due To Stabilising Battery Costs, Says Tata Motors MD</a>



Jefferies has a &#8220;buy&#8221; rating on HAL with a target price of ₹5,500. In Q2 FY25, the company saw a 7% YoY increase in EBITDA, with margins improving by 37 basis points to 27.5%. 



The higher-margin service income likely played a key role in the performance, especially given delays in aircraft deliveries due to engine supply issues with its partnership with GE, the brokerage said.



Antique Broking also maintained its &#8220;buy&#8221; rating for the stock with a target price of ₹5,902. Antique Broking expressed confidence in HAL&#8217;s long-term business prospects and execution capabilities. The brokerage estimates that HAL is on track to achieve a 15% compound annual growth rate (CAGR) in revenue over FY24–27E.



With the potential for multi-year double-digit earnings growth and a robust return ratio profile exceeding 20%, analysts at Anrique believe the stock offers an attractive valuation at current levels.



Price Action: Shares of HAL rose 2.62% to trade at ₹4,194.05 on Monday morning. The stock jumped 4% to hit an intraday high of ₹4,248.



Read Next: <a href="https://in.benzinga.com/markets/equities/24/11/42023014/nbcc-sees-orderbook-expand-to-84-400-cr-in-q2">NBCC Sees Orderbook Expand To ₹84,400 Cr In Q2</a>

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The brokerage sees an expected order of large helicopter and Sukhoi aircraft as in the second half of FY25, along with visibility on the GE engine deal as the major catalysts in the firm's growth.

HAL Shares Jump 4% As Brokerages Remain Strongly Bullish After Q2-Print 

Nivedita Hazra

The brokerage sees an expected order of large helicopter and Sukhoi aircraft as  in the second half of FY25, along with visibility on the GE engine deal as the major catalysts in the firm's growth.

HAL Shares Jump 4% As Brokerages Remain Strongly Bullish After Q2-Print

Stock market analysts

NBCC&#8216;s share price has remained under pressure ever since the company posted its earnings for the quarter ended September. However, analysts at Nuvama think the stock can bounce back.



The NBCC Analyst: Analysts at Nuvama upgraded the stock&#8217;s rating to &#8220;buy&#8221; from &#8220;hold&#8221; with a price target of ₹133. The target indicates an around 47% upside from the stock&#8217;s last closing price of ₹89.90.



The NBCC Thesis: Improved order intake, execution, and margins, coupled with progress in real estate monetization, are seen as positives by the analysts. The brokerage added that following the recent correction in the stock, it is upgrading the PSU&#8217;s rating.



Nuvama highlighted that NBCC&#8217;s revenue for the September quarter grew 19% year-on-year (YoY) and 15% sequentially to around ₹2,460 crore. However, the brokerage noted that the EBITDA margin declined by around 60 basis points YoY and 20 basis points quarter-on-quarter (QoQ) to 4.1%, <a href="https://in.benzinga.com/news/earnings/24/11/41932498/nbcc-q2-net-profit-jumps-53-to-122-cr">which weighed on the adjusted profit after tax (PAT). </a>



The company has guided for a revenue of ₹13,000 crore in FY25, up from ₹10,400 crore in FY24. The construction major expects EBITDA margins to improve to 5.5–6% (from 4.9% in FY24) and PAT margins to rise to 6–7%. The brokerage added that NBCC is also targeting a 20% YoY revenue growth in FY26.



See Also: <a href="https://in.benzinga.com/markets/equities/24/11/42022982/garden-reach-shipbuilders-reports-4-dip-in-orderbook-at-24-221-cr-in-q2">Garden Reach Shipbuilders Reports 4% Dip In Orderbook At ₹24,221 Cr In Q2</a>



The brokerage also mentioned the company&#8217;s strong order. NBCC&#8217;s consolidated o<a href="https://in.benzinga.com/markets/equities/24/11/42023014/nbcc-sees-orderbook-expand-to-84-400-cr-in-q2">rder book grew QoQ to ₹84,400 crore in the September quarter, compared to ₹81,000 crore in the previous quarter. </a>



Of this, around ₹22,000 crore worth of projects are currently under execution. The company awarded contracts worth ₹3,600 during Q2FY25 and ₹7,300 crore in the first half of FY25, with plans to award ₹14,000 crore–15,000 crore worth of projects for the entire fiscal year, the brokerage noted.



While the company&#8217;s book-to-bill ratio stands at a robust 7.6x, around 45% of its order book comprises self-revenue-generating projects, where the pace of real estate monetization will play a critical role, according to Nuvama.



The brokerage noted that NBCC has fully sold its World Trade Center project and plans a bulk sale for the Sarojini Nagar project once the occupancy certificate is received. In the Amrapali project, the company has sold inventory worth ₹3,650 billion so far.



Price Action: NBCC&#8217;s share price was up 0.22% to trade at ₹89.80 on Monday morning.



Read Next: <a href="https://in.benzinga.com/analyst-ratings/analyst-color/24/11/42022693/clsa-reverses-course-increases-allocation-to-indian-equities-while-cutting-back-on-">CLSA Reverses Course, Increases Allocation To Indian Equities While Cutting Back On China</a>



Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Analyst Color

Upgrades

NBCC's share price has remained under pressure ever since the company posted its earnings for the quarter ended September. However, analysts at Nuvama think the stock can bounce back.

NBCC Shares Remain Under Pressure After Q2, But Analyst Sees Over 45% Upside Ahead 

Benzinga India Staff

NBCC

NBCC Shares Remain Under Pressure After Q2, But Analyst Sees Over 45% Upside Ahead

SPlendor

Hero Motocorp shares were on the rise on Monday after the company posted its results on Thursday last week that beat street estimates.



What Happened: The two-wheeler maker <a href="https://in.benzinga.com/news/earnings/24/11/41977061/hero-motocorp-q2-net-profit-jumps-14-to-1-203-54-cr-beats-estimates">posted a net profit of ₹1,203.54 crore</a>, making a 14% year-on-year increase. The company that manufactures Harley Davidson in India reported an 11% jump in revenue in operations to ₹10,463 crore in the quarter, beating analyst estimates. 



The company sold 15.20 lakh units in the quarter compared to 14.16 lakh units in the previous year. Niranjan Gupta, CEO of Hero Motocorp said that the company will release three models Xpulse 210, Xtreme 250R and Karizma XMR 250 in the Entry and Deluxe segment in the next 6 months.



Brokerage Views: Jefferies gave a "buy" call with a target price of ₹5,500. The brokerage said that Q2 results were in line. EBITDA per vehicle rose to a new high in the quarter, said the research firm. According to Jefferies, the Indian two-wheeler market is poised for strong double-digit growth in the next 3 years. 



See Also: <a href="https://in.benzinga.com/markets/equities/24/11/42028604/ev-prices-may-not-drop-further-due-to-stabilising-battery-costs-says-tata-motors-md">EV Prices May Not Drop Further Due To Stabilising Battery Costs, Says Tata Motors MD</a>



However, the research firm noted that the company's decline in the 2-wheeler market share is a concern and adverse demand profile shifts are a concern. Any success of the company in the premium and EV segment will be positive. 



Nomura also kept a "buy" call with a target price of ₹5,805. The brokerage said that rural improvement is a key catalyst. Despite the company posting healthy earnings growth and attractive valuation, the margins have room to improve, the research firm said. The brokerage also expects the two-wheeler market to grow by 10% over FY25-26 due to rebalancing of growth and positive monsoons.&nbsp;



The brokerage firm noted that there are early signs of rural pick up which will support sales as the rural mix makes up 54% of the sales. The research firm said that the company's margins will improve as EV drag reduces due to new models and PLI benefits. 



Price Action: Shares of Hero Motocorp rose 3.41% to ₹4,760.90 on Monday morning. 



Read Next: <a href="https://in.benzinga.com/markets/equities/24/11/42023014/nbcc-sees-orderbook-expand-to-84-400-cr-in-q2">NBCC Sees Orderbook Expand To ₹84,400 Cr In Q2</a>

Hero Motocorp shares rise 3.41% after posting a net profit of ₹1,203.54 crore in Q2, with 11% jump in revenue. Rural improvement expected to boost sales.

Hero MotoCorp Shares Jump 3% After Strong Q2 Results 

Ananthu C U

Hero Motocorp

Hero MotoCorp Shares Jump 3% After Strong Q2 Results

On Monday Nifty 50 fell 0.34% to 23,453.80. 21 stocks gained while 29 declined.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18054049/newplot-24.jpeg" alt="" class="wp-image-652614" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18054049/newplot-24.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18054049/newplot-24-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /></figure>



Hindalco emerged as the star performer with a 3.78% jump, closing at ₹651.05. The stock had closed at ₹627.35 in the previous trading session.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18054330/newplot-25.jpeg" alt="" class="wp-image-652618" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18054330/newplot-25.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18054330/newplot-25-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /></figure>



Following closely was Hero MotoCorp, which saw a 2.80% surge, ending the day at ₹4733.00, up from its last close of ₹4604.00.



<h4 class="wp-block-heading">Top Gainers</h4>



<figure class="wp-block-table"><table><thead><tr><th>Stock</th><th>Current Price</th><th>Last Close</th><th>% Change</th></tr></thead><tbody><tr><td>Hindalco</td><td>₹651.05</td><td>₹627.35</td><td>3.78%</td></tr><tr><td>Hero MotoCorp</td><td>₹4733.00</td><td>₹4604.00</td><td>2.80%</td></tr><tr><td>Tata Steel</td><td>₹141.21</td><td>₹137.98</td><td>2.34%</td></tr><tr><td>M&amp;M</td><td>₹2846.90</td><td>₹2807.20</td><td>1.41%</td></tr><tr><td>Hindustan Unilever</td><td>₹2422.90</td><td>₹2389.20</td><td>1.41%</td></tr></tbody></table></figure>



Tata Steel also had a good run, with a 2.34% increase, closing at ₹141.21. The stock had ended the previous session at ₹137.98.



M&amp;M and Hindustan Unilever rounded off the top five gainers, with a 1.41% rise each. M&amp;M closed at ₹2846.90, while Hindustan Unilever ended the day at ₹2422.90.



See Also:<a href="https://in.benzinga.com/analyst-ratings/analyst-color/24/11/42030455/should-you-subscribe-to-ntpc-green-energy-ipo-check-analysts-calls-latest-gmp"> Should You Subscribe To NTPC Green Energy IPO? Check Analysts&#8217; Calls, Latest GMP</a>



On the flip side, TCS was the biggest loser, shedding 3.05% to close at ₹4019.50. The IT giant had closed at ₹4145.90 in the previous session.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18055440/newplot-26.jpeg" alt="" class="wp-image-652627" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18055440/newplot-26.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18055440/newplot-26-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /></figure>



BPCL followed suit, with a 3.02% drop, closing at ₹289.20. The stock had ended the previous session at ₹298.20.



<h4 class="wp-block-heading">Top Losers</h4>



<figure class="wp-block-table"><table><thead><tr><th>Stock</th><th>Current Price</th><th>Last Close</th><th>% Change</th></tr></thead><tbody><tr><td>TCS</td><td>₹4019.50</td><td>₹4145.90</td><td>-3.05%</td></tr><tr><td>BPCL</td><td>₹289.20</td><td>₹298.20</td><td>-3.02%</td></tr><tr><td>Infosys</td><td>₹1811.45</td><td>₹1864.55</td><td>-2.85%</td></tr><tr><td>Dr. Reddy&#8217;s</td><td>₹1193.55</td><td>₹1226.70</td><td>-2.70%</td></tr><tr><td>Trent</td><td>₹6301.65</td><td>₹6463.00</td><td>-2.50%</td></tr></tbody></table></figure>



Infosys also had a rough day, with a 2.85% decrease, closing at ₹1811.45. The stock had closed at ₹1864.55 in the last session.



Dr. Reddy&#8217;s and Trent completed the list of top five losers, with a 2.70% and 2.50% fall respectively. Dr. Reddy&#8217;s closed at ₹1193.55, while Trent ended the day at ₹6301.65.



Read Next: <a href="https://in.benzinga.com/markets/equities/24/11/42030973/ntpc-and-ongc-join-hands-to-establish-a-green-energy-venture-ongpl">NTPC And ONGC Join Hands To Establish A Green Energy Venture &#8216;ONGPL&#8217;</a>




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Nifty 50 fell 0.34% to 23,453.80. Hindalco emerged as top performer with a 3.78% jump, while TCS was the biggest loser with a 3.05% fall.

TCS Top Loser As Nifty Continues Slide

NTPC and Oil and Natural Gas Corporation (ONGC) have come together to form a new company, &#8220;ONGC NTPC GREEN PRIVATE LIMITED&#8221; (ONGPL), aimed at developing renewable energy projects.



What Happened: As per a regulatory filing, ONGPL is a 50:50 joint venture between NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC Limited, and ONGC Green Limited (OGL), a wholly-owned subsidiary of ONGC.



See Also:<a href="https://in.benzinga.com/markets/equities/24/11/42030459/rvnl-secures-loa-for-294-94-cr-contract-from-south-central-railway"> RVNL Secures LoA For ₹294.94 Cr Contract From South Central Railway</a>



The joint venture&#8217;s primary objective is to explore and establish renewable energy projects and assets through greenfield development and acquisitions. It will also evaluate the feasibility of offshore wind projects, among other related activities.



The Ministry of Power (MoP), Government of India, had previously approved the formation of this joint venture. The new company&#8217;s authorized share capital is ₹10 Lakh, with an equal amount subscribed and paid up.



ONGPL will operate in the renewable energy sector, exploring opportunities in storage, E-mobility, and ESG (Environmental, Social, and Governance) compliant projects. It will also investigate opportunities related to carbon credits and green credits for low-carbon transition.



Read Next: <a href="https://in.benzinga.com/analyst-ratings/analyst-color/24/11/42030455/should-you-subscribe-to-ntpc-green-energy-ipo-check-analysts-calls-latest-gmp">Should You Subscribe To NTPC Green Energy IPO? Check Analysts&#8217; Calls, Latest GMP</a>




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ONGPL, a joint venture between NTPC and ONGC, was formed to develop renewable energy projects, including offshore wind, storage, and E-mobility.

NTPC And ONGC Join Hands To Establish A Green Energy Venture &#39;ONGPL&#39;

NTPC Green Energy IPO is set to open for subscription on November 19. Brokerage firm Ventura gave a "subscribe" rating to the IPO In its review note. The brokerage said that the company's capacity utilisation factor (CUF) has been consistently improving, powered by operational efficiency. 



NTPC Green Energy's CUF increased from 19.4% in FY22 to 24.73% in FY24, the brokerage said. The company has fared well in comparison to its peers, the research firm added.&nbsp;



Ventura also noted that NTPC plans to enhance its project pipeline through prudent bidding and strategic joint ventures with PSUs and private companies. NTPC had recently signed a joint venture agreement with MahaPreit to implement renewable energy park which includes solar, wind and hybrid energy.&nbsp;



See Also: <a href="https://in.benzinga.com/markets/equities/24/11/42030086/suzuki-and-tata-elxsi-launch-offshore-development-centre-in-pune-to-propel-future-mobility">Suzuki And Tata Elxsi Launch Offshore Development Centre In Pune To Propel Future Mobility</a>



The company's main priorities involve developing battery storage and renewable energy Projects. This includes the green hydrogen hub at Pudimadoka. The company's focus is also on green hydrogen production in Rajasthan and Renewable energy park in Maharashtra. 



Earlier, SBI Securities had also issued a subscribe for <a href="https://in.benzinga.com/markets/equities/24/11/41964629/sbi-securities-gives-long-term-subscirbe-rating-for-ntpc-green-energy">long-term rating to the upcoming IPO.</a>



IPO Details: The ₹10,000 crore issue will be open for subscription on November 19 and will close on November 22. The IPO is a fresh issue of 92.59 crore shares. The company has set a price band of <a href="https://in.benzinga.com/markets/equities/24/11/41931624/ntpc-green-energy-ipo-to-open-on-nov-19-check-price-band">₹102 to ₹108 per share</a> for the issue.&nbsp;



NTPC Green IPO&#8217;s GMP has further declined to ₹1 on Monday from <a href="https://in.benzinga.com/markets/equities/24/11/41964629/sbi-securities-gives-long-term-subscirbe-rating-for-ntpc-green-energy?utm_source=benzinga_india&amp;utm_campaign=partner_feed&amp;utm_medium=partner_feed&amp;utm_content=site">₹3 on Thursday</a>. It's important to note that while GMPs can provide some insight into market sentiment towards an IPO, they are not always a reliable predictor of the stock's performance upon listing.



Read Next: <a href="https://in.benzinga.com/analyst-ratings/analyst-color/24/11/42030213/bdl-shares-down-3-after-q2-but-analyst-expects-over-40-surge-ahead">BDL Shares Down 3% After Q2, But Analyst Expects Over 40% Surge Ahead</a>

NTPC Green Energy IPO to open on Nov 19 &amp; close on Nov 22. Ventura gives a subscribe rating, notes company&#39;s improving CUF &amp; plans for project pipeline &amp; green energy development. IPO is a fresh issue of 92.59cr shares with price band of ₹102-108. Grey market premium declines.

Should You Subscribe To NTPC Green Energy IPO? Check Analysts&#39; Calls, Latest GMP

Rail Vikas Nigam Limited (RVNL) has bagged a substantial Engineering Procurement Construction (EPC) contract from South Central Railway.



What Happened: RVNL announced the receipt of the&nbsp;letter of acceptance from South&nbsp;Central Railway in an exchange filing on Monday. The contract entails the doubling of the track between Navipet Station and Indalvai Station in Telangana, excluding the Nizamabad Yard. This project is a segment of the Mudkhed-Medchal doubling project in the&nbsp;state.



The project, worth ₹294.94 crores, also includes electrification and signalling works. The contract is domestic and is expected to be executed within 24 months. The company was declared the lowest<a href="https://in.benzinga.com/markets/equities/24/11/41877831/rvnl-bags-294-94-cr-order-from-south-central-railway"> bidder for the order earlier this month.</a>



See Also:&nbsp;<a href="https://in.benzinga.com/markets/equities/24/11/42030086/suzuki-and-tata-elxsi-launch-offshore-development-centre-in-pune-to-propel-future-mobility" target="_blank" rel="noreferrer noopener">Suzuki And Tata Elxsi Launch Offshore Development Centre In Pune To Propel Future Mobility</a>



This win follows a string of successful bids by RVNL. Earlier this month, a joint venture between <a href="https://in.benzinga.com/markets/equities/24/11/41743252/rvnl-jv-bags-613-cr-rail-infrastructure-project-in-karnataka">RVNL and Rithwik Projects</a> secured a ₹613 crore rail infrastructure project in Karnataka. Additionally, a consortium led by <a href="https://in.benzinga.com/markets/equities/24/11/41742334/rvnl-led-consortium-bags-massive-5-000-cr-project-from-bsnl">RVNL, HFCL, and Aerial Telecom Solutions</a> was declared the lowest bidder for a ₹7,000 crore order from Bharat Sanchar Nigam Limited (BSNL).



The company&#8217;s <a href="https://in.benzinga.com/news/earnings/24/11/41799851/rvnl-q2-net-profit-down-27-to-287-cr-misses-estimates">second-quarter net profit declined</a> by 27.12% to ₹286.89 crore. The railway major's revenue also fell 1.2% to ₹4,854.95 crore, missing the street's estimates for the company. However, RVNL maintained a <a href="https://in.benzinga.com/news/earnings/24/11/41835819/rnvl-sees-fy25-revenue-at-23-000-cr-orderbook-stands-at-92-000-cr">positive outlook</a> for the second half of FY25, with the company&#8217;s Director of Finance, Sanjeeb Kumar, expressing confidence about hitting a topline of ₹22,000 crore to ₹23,000 crore in FY25.



Read Next:&nbsp;<a href="https://in.benzinga.com/markets/equities/24/11/42029262/mgl-igl-shares-tank-up-to-20-after-govt-cuts-apm-gas-allocation-for-2nd-straight-month" target="_blank" rel="noreferrer noopener">MGL, IGL Shares Tank Up To 20% After Govt Cuts APM Gas Allocation For 2nd Straight Month</a>




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The project, worth ₹294.94 crores, also includes electrification and signalling works. The contract is domestic and is expected to be executed within 24 months.

RVNL Secures LoA For ₹294.94 Cr Contract From South Central Railway

Shares of Bharat Dynamics Limited (BDL) have been under the pump after the company <a href="https://in.benzinga.com/news/earnings/24/11/41964223/bdls-q2-net-profit-slumps-16-to-122-53-cr-revenue-drops-11">posted its earnings for the quarter ended September</a>. However, analysts at Antique Broking see the stock turning things around.



The BDL Analyst: Antique Broking maintained its &#8220;buy&#8221; rating for the stock, but reduced the target price to ₹1,357 from ₹1,579. The revised target still indicates an around 42% upside from the stock&#8217;s current market price of around ₹955.



The BDL Thesis: BDL reported Q2FY25 revenue of ₹550 crore, a decline of 11.5% year-on-year (YoY) and below Antique Broking&#8217;s<a href="https://in.benzinga.com/markets/equities/24/11/41962178/bdl-shares-in-green-ahead-of-q2-results-what-to-expect"> estimate of ₹700 crore. </a>Analysts attributed the revenue miss to continued supply chain challenges that have persisted for the past eight quarters, hampering the execution of the company's robust ₹19,000 crore order backlog.



EBITDA stood at ₹98.8 crore, below the brokerage&#8217;s estimate of ₹140 crore, due to under-absorption of costs. EBITDA margin contracted 370 basis points YoY to 18.1%. PAT came in at ₹120 crore, a 16.7% YoY decline, and below Antique&#8217;s estimate of ₹157 crore.



Despite these issues, BDL has maintained its revenue guidance of ₹3,000 crore+ for FY25. The company plans to prioritize orders with a functional supply chain and defer those facing challenges to FY26, the brokerage said.



See Also: <a href="https://in.benzinga.com/news/earnings/24/11/42028685/hal-shares-jump-4-as-brokerages-remain-strongly-bullish-after-q2-print">HAL Shares Jump 4% As Brokerages Remain Strongly Bullish After Q2-Print</a>



With an order backlog of ₹19,000 crore —equivalent to 8.6x its trailing 12-month revenue—Antique highlighted robust revenue visibility.



The brokerage said that the defence manufacturer should see a strong influx of orders. The company expects to finalise orders worth ₹2,000–5,000 crore in FY25, with a strong pipeline exceeding ₹20,000 crore over the next two to three years. Key projects in the pipeline include large-scale orders for Astra MK II, QRSAM, and MRSAM. BDL had secured ₹1,760 crore in orders during FY24.



Antique noted that while supply chain issues have dampened execution, BDL is taking steps to address these challenges. The company is developing alternate strategies to accelerate deliveries for orders unaffected by supply chain disruptions, with execution expected to pick up in the second half of FY25. The brokerage believes that supply chain normalization and indigenization efforts will enhance BDL's ability to execute its large order backlog.



Antique remains optimistic about BDL's long-term prospects, citing strong business fundamentals and export opportunities. 



Price Action: BDL&#8217;s share price was down 3.48% to trade at ₹955.15 on Monday afternoon.



Read Next: <a href="https://in.benzinga.com/analyst-ratings/analyst-color/24/11/42029033/vodafone-idea-shares-in-red-for-7th-consecutive-session-brokerages-cut-price-target">Vodafone Idea Shares In Red For 7th Consecutive Session: Brokerages Cut Price Targets</a>



Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Shares of Bharat Dynamics Limited (BDL) have been under the pump after the company posted its earnings for the quarter ended September. However, analysts at Antique Broking see the stock turning things around.

BDL Shares Down 3% After Q2, But Analyst Expects Over 40% Surge Ahead

Suzuki Motor Corporation and Tata Elxsi have inaugurated the &#8220;Suzuki-Tata Elxsi Offshore Development Center&#8221; in Pune, India, on Friday.



What Happened: The Japanese multinational mobility manufacturer Suzuki and Tata Elxsi have unveiled a dedicated centre in Pune. This centre is set to drive Suzuki&#8217;s advancements in engineering, thereby charting the path for future mobility.



The collaboration between the two companies will concentrate on next-generation powertrains and software-defined vehicles, promoting energy-efficient solutions for electric, hybrid,&nbsp;and alternative fuel vehicles. Tata Elxsi will align&nbsp;with Suzuki's goals for sustainable&nbsp;innovation in lightweight design, safety,&nbsp;styling and engineering, eco-friendly materials, and advanced simulations&nbsp;to improve time-to-market.



See Also:&nbsp;<a href="https://in.benzinga.com/markets/equities/24/11/42029262/mgl-igl-shares-tank-up-to-20-after-govt-cuts-apm-gas-allocation-for-2nd-straight-month" target="_blank" rel="noreferrer noopener">MGL, IGL Shares Tank Up To 20% After Govt Cuts APM Gas Allocation For 2nd Straight Month</a>



Suzuki's Chief Technology Officer, Katsuhiro Kato, emphasised the centre&#8217;s importance as a crucial part of Suzuki's innovation strategy. &#8220;Tata Elxsi's expertise in advanced computing, simulation, and design digital makes them an ideal partner in bringing forward-thinking solutions to market. This strategic and long-term partnership incorporates Suzuki's endeavour of minimising energy and enables India's talent to actively contribute to our development efforts globally,&#8221; said Kato.



This development comes on the heels of <a href="https://in.benzinga.com/markets/equities/24/10/41621219/maruti-suzuki-to-supply-ev-suvs-to-toyota-production-to-begin-in-2025">Suzuki&#8217;s recent collaboration with Toyota</a> to produce battery EV SUV models, set to begin in spring 2025 at its plant located in Gujarat. This partnership marked the first between the companies in green vehicles. 



Read Next:&nbsp;<a href="https://in.benzinga.com/markets/equities/24/11/42029214/why-tata-steel-hindalco-vedanta-and-other-metal-stocks-are-surging-up-to-4-today" target="_blank" rel="noreferrer noopener">Why Tata Steel, Hindalco, Vedanta And Other Metal Stocks Are Surging Up To 4% Today</a>




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The collaboration between the two companies will concentrate on next-generation powertrains and software-defined vehicles, promoting energy-efficient solutions for electric, hybrid, and alternative fuel vehicles. 

Suzuki And Tata Elxsi Launch Offshore Development Centre In Pune To Propel Future Mobility

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