Nifty faces 22,850 hurdle; analyst recommends BHEL, HAL, IndiGo for trade
Bharat Heavy Electricals is in focus in a defence development.
· Business Standard Mkts
Ajit Mishra of Religare Broking has reiterated a cautious stance on Nifty, with 22,850, coinciding with the 20-DEMA, acting as the immediate hurdle. He has recommended HAL, IndiGo and BHEL for trade.
The analysis
Against that, the stock is -3.6% on the day at ₹387.60, and has returned -3.8% over three months. It sits 16% below its 52-week high. The capital goods & engineering sector has moved -5.3% over the same period, so Bharat Heavy Electricals is running 1.5 points ahead of its peers.
For Bharat Heavy Electricals, the question is how much of this is already reflected in the price and how much re-rates the capital goods & engineering peer set alongside it.
Why it matters
- Defence orders carry long execution tails and policy tailwinds, which the market values for their visibility.
Market context
- In focus: Bharat Heavy Electricals (BHEL) (BHEL), in Capital Goods & Engineering.
- On the day, 0 of 2 are higher: Hindustan Aeronautics leads at -0.3% and Bharat Heavy Electricals (BHEL) trails at -3.6%.
- Over three months: Bharat Heavy Electricals (BHEL) -3.8% against Capital Goods & Engineering -5.3% (1.5 points ahead); Hindustan Aeronautics +5.9% against Defence & Aerospace -1.7% (7.6 points ahead).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Bharat Heavy Electricals (BHEL)BHEL · Capital Goods & Engineering | ₹387.60 | -3.6% | -6.7% | -3.8% | -16.5% | 0.8× | — |
| Hindustan AeronauticsHAL · Defence & Aerospace | ₹4,853.70 | -0.3% | +4.0% | +5.9% | -4.8% | 1.1× | — |
Capital Goods & Engineering
1M -10.9% · 3M -5.3%
Bharat Heavy Electricals (BHEL)
Defence & Aerospace
1M -7.5% · 3M -1.7%
Hindustan Aeronautics
Prices as of 30 Oct 2026, 16:10 IST. Sector moves are the average of the stocks we track in each sector.
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