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Global brokerage firm Nomura initiated coverage on PSUs Hindustan Aeronautics (HAL) and Bharat Electronics (BEL) with a ‘buy’ rating and a target price of Rs 4,750 and Rs 300, respectively. This signals an upside potential of 23% for HAL and 30% for BEL from their current market price.The brokerage firm bets on HAL for its strong moat in fighter aircraft and helicopters, and significant capability upgrade that provides basis for the development of the indigenous engine program and BEL, for its increased visibility on order inflows, conviction on margins delivery and expansion in returns ratios.India's defence sector is witnessing significant growth driven by increasing defencebudgets, modernisation efforts, and the government's emphasis on indigenousmanufacturing through initiatives like "Make in India” while the country’s location in the geopolitically significant South Asian region makes defence a priority area for national security as it continues to strengthen its defence capabilities to address regional security challenges.Here is what the brokerage said while commenting on the defence stocks:HALNomura sees a potential for re-rating as the value opportunity of Rs 3.9 lakh crore over the next eight years provides growth visibility as HAL's capability has upgraded significantly due to the GE deal for manufacturing of complex fighter jet engines, providing autonomy for development of future fighter jet programs like Kaveri.“We believe its valuation would sustain at the higher end of 22x -42x 1-year forward PE. We expect revenue, EBITDA, and PAT to register respective CAGRs of 14%, 11%, 23% over FY23-26F. We value HAL at 38x (implied PE of 32-43x based on DCF) FY26 earnings, with a target price of INR4,750 and initiate coverage at Buy,” stated Nomura.BELUnderpinned by a strong order backlog of Rs 76,000 crore (3.86x TTM sales) and bolstered by a robust order pipeline, Nomura stated that it expects BEL to sustain secular growth, driven by market dominance and increased project sizes as it further ascends the value chain as a system integrator.“We forecast ROEs to increase to 27.7% in FY26F from 23.5% in FY23. We value the stock at 40x FY26F EPS (50% premium to +1SD), with a TP of INR300 reflecting improved visibility, a strong competitive moat, and a well-established presence in significant defence contracts,” the brokerage firm added.The shares of HAL were trading flat at Rs 3863.35 while BEL was trading nearly 1% lower at Rs 230 on BSE around 12:30 pm.Also read: Muthoot Finance and Manappuram Finance shares tank up to 9% after RBI advisory(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Maruti Suzuki today launched its much awaited new Epic Swift 2024, its fourth-generation avatar in India today at Rs 6.49 lakh (ex-showroom). At the launch event, the company said that the new model of the Swift was designed and developed with an investment of Rs 1,450 crore. The new Swift will also be available at an all-inclusive monthly subscription. The new Swift will be available in nine colors, and in two different transmission, automatic and manual. The company claims that the new uplift variant will be 10% more fuel efficient for the manual variant, and 14% more fuel efficient in the automatic variant.Over the past two decades, the Swift hatchback has sold over 6.5 million units worldwide in 169 countries.Takeuchi noted that the entry-level segment continues to be a high volume vertical accounting for around 28 per cent of the overall domestic passenger vehicle sales."For us to maintain our leadership position, it is important to cater to diverse customer segments. The hatchback segment in India continues to be a high-volume segment, accounting for approximately 28 per cent of total passenger vehicle sales," Takeuchi said.Interestingly, the premium hatchback segment contributes nearly 60 per cent of total hatchback sales, he noted."As a market leader, we took the responsibility to re-energise the hatchback segment at a time when this segment really needs a catalyst for growth," Takeuchi said.This includes investment in tools and dyes for the vehicle as well as the new and more environment-friendly Z-Series engine, he added. The model would be manufactured at Suzuki Motor Gujarat, from where it will serve customers in India as well as in overseas markets, Takeuchi said. Maruti Suzuki Swift 2024: Pricing and CompetitionMaruti Swift has been priced at Rs 6.49 lakh (ex-showroom, check variant-wise price list below). The company also announced that the car would be available on subscription at Rs 17,436 per month. The subscription cost includes vehicle registration, maintenance, insurance and road side assistance. 109973368Maruti Suzuki Swift 2024: Design and FeaturesThe fourth-gen Swift retains its distinctive identity while incorporating evolutionary design elements compared to its predecessor. Exterior changes include angular headlights, a revised grille, and updated tail lamps. Inside, the new Swift boasts a new dashboard layout, resembling recent Maruti Suzuki models. It will be equipped with a 9.0-inch SmartPlay Pro+ touchscreen infotainment system and updated switchgear for the automatic climate control system, offering a refreshed look.The new Swift will be available in nine colours including, in six mono-tone, and three dual tones.Maruti Suzuki has achieved a 12% reduction in emissions with the new 1.2-liter Z-Series petrol engine in the 2024 Swift, demonstrating the company's commitment to sustainability and innovation in the automotive industry.Maruti Suzuki Swift 2024: Trim Options and Transmission ChoicesFive Trim OptionsThe new Maruti Swift will be available in five trims: LXi, VXi, VXi(O), ZXi, and ZXi(O).AMT TransmissionAn AMT option will be available from the VXi trim onwards, providing customers with a choice of automatic transmission.Maruti Suzuki Swift 2024: Enhanced Safety FeaturesMaruti Suzuki is set to elevate safety standards with the new-gen Swift by offering 6 airbags as standard across the entire range. Additionally, all seats will now feature 3-point seat belts, ensuring a safer driving experience for occupants. 109973481Maruti Suzuki Swift 2024: Engine and PerformanceThe new Swift is expected to be powered by Suzuki’s new 1.2-litre, three-cylinder Z-Series naturally aspirated petrol engine, likely with mild hybrid technology for improved fuel efficiency. Both manual and automated manual transmission options are anticipated to be available.The new Swift also boasts of 10% higher fuel efficiency for the manual variant, while the whole automatic variant offers 14% improved fuel efficiency.New 1.2L Z-series petrol engine fuel efficiency revealed.MT: 24.8 kmplAMT: 24.75 kmpl 109966975Maruti Suzuki Swift 2024: Comparison with RivalsThe 2024 Swift is likely to face competition from micro-SUVs like Tata Punch and Hyundai Exter in terms of pricing. The Punch is priced between Rs 6.13 lakh and Rs 10.20 lakh (ex-showroom), while the Exter comes in the price range of Rs 6.13 lakh to Rs 10.28 lakh (ex-showroom).Maruti Suzuki Swift 2024: Sales and LegacyThe Maruti Suzuki Swift has been a best-seller, clocking sales of around 3 million units since its introduction in India. It has always been known for its incredible value-for-money package.Maruti Suzuki India had commenced pre-bookings of the fourth-generation Epic New Swift at an initial payment of ₹11,000. The company has not yet announced a certain launch date for its hatchback car, which it describes as "sporty and has a dynamic driving performance." The new Swift aims to blend its much-loved sporty DNA with modern expectations of environmental friendliness and low emissions.Maruti Suzuki recently raised the price of the Swift and some Grand Vitara variants, with the Swift seeing a price increase of up to Rs 25,000. However, this price hike hasn't deterred customers, as Maruti Suzuki's yearly sales volume has surpassed two million units, showing a significant increase in net profit for FY 2023–24. 109970310With its fourth-generation launch, the Maruti Suzuki Swift continues to be a strong contender in the hatchback segment, offering a blend of style, performance, and affordability.