India’s Top Defence Infra & Simulation Stocks – BEL, L&T, Zen Tech, Axiscades
By CapitalKeeper | Defence Theme | Indian Sock Market | Market Moves That Matter I 24th June 2025
Defence Engineering & Infrastructure II Defence & Aerospace Theme – Part 5
Battlefield Engineering | Simulators | Military Construction | Defence Contracting
Series: India’s Defence & Aerospace Stocks 2025
✳️ Introduction
This category forms the backbone of India’s defence manufacturing infrastructure. These companies don’t just build equipment—they build the facilities, shipyards, training systems, and command setups that make modern warfare possible.
They are prime beneficiaries of the Indian Defence CapEx boom, driven by:
- ₹6 lakh crore Indian defence budget
- Private sector inclusion in defence shipbuilding & simulation
- Exports of simulators, naval platforms, and modular war systems
🔍 Key Stocks Covered Today:
- Larsen & Toubro (L&T)
- Bharat Electronics Ltd (BEL)
- Zen Technologies Ltd
- Axiscades Technologies Ltd
1️⃣ Larsen & Toubro (L&T) – India’s Largest Private Defence EPC
🔧 Fundamentals:
- Major player in submarine hulls, howitzer artillery, missile canisters, and shipbuilding
- Built the INS Arihant class nuclear sub hulls
- Strong orderbook via Navy, DRDO, and foreign exports
📊 Technical Snapshot:
- CMP: ₹3,544
- Support: ₹3,420
- Resistance: ₹3,720 / ₹3,850
- RSI: 57 – Healthy consolidation
- MACD: Turning positive
- ADX: 28 – Strengthening trend
📈 Chart Pattern:
✅ Higher-low setup
✅ 50 EMA support zone
✅ Bounce from demand area near ₹3,400
🎯 Trade Strategy:
- Buy Zone: ₹3,500–3,545
- Target 1: ₹3,720
- Target 2: ₹3,850
- Stop-loss: ₹3,400
2️⃣ Bharat Electronics Ltd (BEL) – Make-in-India Electronics Giant
🔧 Fundamentals:
- DRDO arm producing missile systems, night vision, EW, radar, border fencing, and naval sonar
- Key beneficiary of India’s air defence and EW modernization
- Strong ROCE, consistent dividend payout
📊 Technical Snapshot:
- CMP: ₹287
- Support: ₹275
- Resistance: ₹305 / ₹320
- RSI: 63 – Bullish
- MACD: Strong crossover
- ADX: 31 – Trend in motion
📈 Chart Pattern:
✅ Breakout from rectangle pattern
✅ Volume breakout with institutional support
✅ Rising 20 EMA under price
🎯 Trade Strategy:
- Buy Zone: ₹282–287
- Target 1: ₹305
- Target 2: ₹320
- Stop-loss: ₹270
3️⃣ Zen Technologies Ltd – Military Simulation & Combat Training Leader
🔧 Fundamentals:
- Supplies simulators for tanks, drones, shooting ranges, artillery
- New export deals for anti-drone and battlefield training systems
- High margin business model; asset-light and IP-driven
📊 Technical Snapshot:
- CMP: ₹895
- Support: ₹860
- Resistance: ₹945 / ₹1,020
- RSI: 66 – Near breakout zone
- MACD: Bullish
- ADX: 35 – Strong trend
📈 Chart Pattern:
✅ Bullish flag on daily
✅ Retest of breakout completed
✅ Strong buy zones near 20 EMA
🎯 Trade Strategy:
- Buy Zone: ₹875–895
- Target 1: ₹945
- Target 2: ₹1,020
- Stop-loss: ₹845
4️⃣ Axiscades Technologies Ltd – Engineering Services for Defence
🔧 Fundamentals:
- Defence-focused digital engineering firm
- Provides services in aerospace, avionics, UAVs, battlefield simulation
- Working with HAL, Boeing, ISRO
📊 Technical Snapshot:
- CMP: ₹537
- Support: ₹510
- Resistance: ₹580 / ₹620
- RSI: 58 – Recovery underway
- MACD: Reversal pattern
- ADX: 24 – Early stage buildup
📈 Chart Pattern:
✅ Cup-handle breakout attempt
✅ Ready for volume confirmation
✅ Ideal for early trend catch
🎯 Trade Strategy:
- Buy Zone: ₹520–537
- Target 1: ₹580
- Target 2: ₹620
- Stop-loss: ₹495
📘 Category Summary: Engineering & Infra Stocks
| Stock | CMP (₹) | Trend | RSI | Trade View | Target | Stop |
|---|---|---|---|---|---|---|
| L&T | 3,544 | Strong Base | 57 | Accumulate | 3,720 / 3,850 | 3,400 |
| BEL | 287 | Bullish Momentum | 63 | Buy Breakout | 305 / 320 | 270 |
| Zen Tech | 895 | Breakout Ready | 66 | Momentum Buy | 945 / 1,020 | 845 |
| Axiscades | 537 | Early Trend | 58 | Watch & Enter | 580 / 620 | 495 |
🧠 CapitalKeeper Insights:
This segment forms a defensive moat—long-term contracts, government protection, and export potential. These are multiyear compounding bets.
- L&T = Large-cap defence infra
- BEL = Core Make-in-India PSU
- Zen Tech = Simulation super-specialist
- Axiscades = Private digital defence disruptor
📌 Full Theme Recap (1–5):
| Day | Theme | Key Stocks |
|---|---|---|
| 1️⃣ | Fighter Aircraft & Helicopters | HAL, BEML, Dynamatic |
| 2️⃣ | Missiles & Weapon Systems | BDL, Solar Ind, Godrej Aero |
| 3️⃣ | Radar & EW Systems | Data Patterns, MTAR, Astra Micro |
| 4️⃣ | Drones & Space Surveillance | Paras, Avantel, RattanIndia |
| 5️⃣ | Defence Infra & Simulation | L&T, BEL, Zen Tech, Axiscades |
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