Defence stocks mein heavy selling chal rahi hai aur BEL uska victim ban gaya hai. Order book toh **₹72,000 Crore** ki hai, par high valuations aur FIIs ki bikwali ne stock ko 52-week low tak patak diya hai.
Defence stocks mein hahakaar
Nifty India Defence index ka mood kafi kharab hai. Bharat Electronics Ltd (BEL) is girawat mein sabse aage hai, jo ₹378.65 ke 52-week low level tak chala gaya tha. Jahan Hindustan Aeronautics jaise stocks ne thoda support dikhaya, wahi BEL par selling ka pressure kaafi zyada hai.
Valuation ka jhamela
BEL ka P/E ratio 45-46 ke aas-paas chal raha hai, jise kai analysts 'stretched' maan rahe hain. Market ne future growth ko pehle hi price mein add kar liya tha, isliye ab thodi si negative news par bhi stock tezi se correction dikha raha hai. Isi wajah se kuch brokerages ne ise 'Hold' se 'Sell' zone mein daal diya hai.
Kya Fundamentals mazboot hain?
Business ki baat karein toh company ke paas ₹72,000 Crore plus ka standalone order book hai, jo long-term revenue ke liye badiya hai. Par dikkat cash flow aur working capital ki hai. Heavy manufacturing hone ke karan kaafi paisa debtors mein phasa rehta hai, jise investors ko dhyaan se track karna chahiye.
FIIs aur Global Market ka pressure
Sirf company hi nahi, global market ke halaat bhi kharab hain. FIIs ki lagataar selling aur US Treasury yields ka badhna high-growth stocks ke liye zeher ban gaya hai. Ab sabki nazar upcoming quarterly results par hai, jahan margin stability aur government projects par management ki commentary hi agla direction tay karegi.