DEFENSE PSU COMPANY GETS APPROVAL TO SET UP Rs 2500-CRORE DEFENSE MANUFACTURING COMPLEX IN ANDHRA PRADESH

Defense PSU company

has got the approval from the Andhra Pradesh government to establish an integrated defence manufacturing complex in the state. The manufacturing facility will be located in the Sri Sathya Sai district, with a total investment of Rs 2,500 crore. The state government has allotted 914 acres of land for the facility, which is expected to cater to multiple segments of the defence and aerospace sector. The company plans to develop the Defence Systems Integrated Complex in two phases out of which the first phase will have an investment of Rs 1,400 crore and the second phase will have an investment of Rs 1,100 crore. Having a market cap of Rs 3,01,748 crore, the stock price has been trading at an attractive ROCE and ROE of 38.9% and 29.2% respectively. The stock price has seen a surge of 40% in the past 6 months and is currently trading at a discount of 5% from it's all time high and showing a bullish trend.