“We are seeing the earnings growth trajectory of India led by banks, the capital goods sector doing very well and FII inflows. In the last week or two, FYTD is up a solid $18 billion. But yet, over three years, we are a negative number. If India's GDP is growing at four times that of the rest of the world, the risk-off trade should be a big vantage point for India.”

ICICI Securities is bullish on Bharat Dynamics recommended buy rating on the stock with a target price of Rs 1325 in its research report dated August 08, 2023.

The said orders are to be executed with 12 months.

The brokerage house forecasts a significant opportunity pipeline of $110 billion over 6-8 years, despite India's current defense revenues being only $8 billion