Nifty faces 22,850 hurdle; analyst recommends BHEL, HAL, IndiGo for trade
Bharat Heavy Electricals is in focus in a defence development.
· Business Standard Mkts
Ajit Mishra of Religare Broking has reiterated a cautious stance on Nifty, with 22,850, coinciding with the 20-DEMA, acting as the immediate hurdle. He has recommended HAL, IndiGo and BHEL for trade.
The analysis
Against that, the stock is -4.9% on the day at ₹441.35, and has returned +5.9% over three months. It sits 5% below its 52-week high. The capital goods & engineering sector has moved -1.0% over the same period, so Bharat Heavy Electricals is running 6.9 points ahead of its peers.
For Bharat Heavy Electricals, the question is how much of this is already reflected in the price and how much re-rates the capital goods & engineering peer set alongside it.
Why it matters
- Defence orders carry long execution tails and policy tailwinds, which the market values for their visibility.
Market context
- The company directly in focus is BHEL.
- Sector exposure: Capital Goods & Engineering, Defence & Aerospace.
In this story
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