Bharat Dynamics: Motilal Oswal keeps Neutral rating, target at Rs 1130
Motilal Oswal kept its Neutral rating on Bharat Dynamics and set a Rs 1,130 target as revenue rose but margins remain weak, per TradingView.
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what happened
Motilal Oswal analysts kept a Neutral rating on shares of India's defence manufacturer Bharat Dynamics (BDL), according to TradingView. Revenue rose well above the brokerage's forecast, driven by execution of pending orders for the Akash and Astra MK 1 systems, which had been delayed by one to two quarters.
However, a jump in imported content pushed EBITDA margin lower, both year on year and quarter on quarter. Order inflows were strong in the first half of FY27, and the brokerage expects further ramp-up in execution to keep revenue growth strong.
Because of lower margins, the analysts revised their model and set a target of Rs 1,130, cutting the multiple to 40x two-year forward earnings from 42x. They said weak margin performance continues to disappoint.
why it matters
For investors, the story highlights a gap between business growth and profitability, so attention will turn to whether the company can hold margins as the share of imports rises. This is a single brokerage report on one stock, so its wider market impact is limited.
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sources
- Neutral Bharat Dynamics; target of Rs 1130: Motilal Oswal — TradingView, 13 November 2026 at 05:45 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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