HAL, BEL, Data Patterns: Why is Jefferies bullish on these defence stocks?

Analysts at Jefferies see up to 32% further upside on Data Patterns stock, and up to 18% and 10% for BEL and HAL; owing to global geo-political tensions and India's focus on self-reliance.

Global brokerage firm, Jefferies in its report on India's aerospace and defence electronics related stocks this month, has reiterated its positive view on Bharat Electronics (BEL) and initiated coverage on Hindustan Aeronautics (HAL) and Data Patterns with a 'Buy' rating.

The report states that ongoing global geo-political tensions and India's rising focus on self-reliance has been fueling order flow and revenue growth for Indian firms in the defence space.

Jefferies has raised its price target on BEL from Rs 225 earlier to Rs 260, indicating an upside of up to 18 per cent from present levels. Similarly, it sees a 10 per