Weekly Tactical Pick: Why this defence electronics stock is a good bet
Stock valuation reasonable in light of improving earnings visibility and robust order pipeline
The company benefiting from the ban on defence imports.
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
Highlights:
- Valuation reasonable post the recent stock correction
- The company benefiting from the ban on defence imports
- It is developing several products and working on defence programmes
- Strong order book and expected order inflows provide good visibility
For this week’s tactical pick, we have selected Data Patterns (CMP: Rs 2959.6 Nifty: 24117), which has corrected recently from the high of Rs 3630 a share in July. Valuations are far more reasonable now, particularly in light of the improving earnings visibility and
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