Goldman Sachs initiates coverage on Data Patterns, PTC Industries and 6 other Indian defence stocks, sees up to 58% upside

Goldman Sachs initiates coverage on eight Indian defence stocks, favouring private-sector players due to rising focus on AI, UAVs, and electronic warfare, along with higher EPS growth and benefits from global defence spending. Top private picks include Solar Industries, PTC Industries, Astra Microwave, Data Patterns, and Azad Engineering. Among public-sector players, BEL is preferred, while HAL is neutral and BDL is rated sell.