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There is a tremendous bullish trend in the shares related to defense and space technology in the Indian stock market. Private companies manufacturing defense equipment are directly benefiting from the policies of ‘Self-reliant India’ and indigenous manufacturing in the defense sector. In this sequence, Astra Microwave Products Ltd (ASTRAMICRO), the favorite defense share of retail investors, has created a stir in the market by giving excellent multibagger returns of more than 70% in the last 6 months. Now the leading domestic broking house Antique Stock Broking has started its coverage on this stock and advised BUY and has set a big target price of ₹ 2,000.
Brokerage’s target and estimate: Chance of further growth of up to 20%
According to a recent research report by Antique Stock Broking, Astra Microwave shares may see an additional upside potential of about 20% from the current levels.
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Target Price: Brokerage for shares ₹2,000 The target has been set.
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Rating: clearly on stock ‘BUY’ (Buy) rating has been given.
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52-Week High: The stock had recently touched its 52-week record high of ₹1,960. The stock has risen nearly 70% so far in 2026 (YTD).
Market analysts believe that the stock is poised for a new technical and fundamental breakout following consolidation, which is all set to take it to new higher levels in the long term.
Strong order book of ₹4,300 crore: Strong revenue visibility of 3.5 years
The biggest reason for the brokerage house adopting a bullish stance on the company is its very strong order book. Currently Astra Microwave has approx. ₹4,300 Crore (₹43 Billion) Strong order pipeline exists.
This order book will be based on the company’s current revenue at the next close. Stable and strong revenue visibility for 3.5 years Provides. The company is continuously receiving high-value projects from Defense Research and Development Organization (DRDO), Indian Space Research Organization (ISRO), Bharat Electronics Limited (BEL) and the three armies.
Undisputed edge in electronic warfare, radar and air defense
The role of electronic warfare (EW), missile electronics and air defense systems has become very important in the modern battlefield. Astra Microwave is one of the few private companies in the country with deep in-house R&D capability to design and manufacture advanced radar systems, telemetry, satellite communications and anti-drone technology.
The company is no longer limited to manufacturing sub-systems or components, but it ‘Complete System Integrator’ Is moving rapidly towards becoming. With the increase in the share of complete systems in the revenue mix, there is every possibility of a significant expansion in the operating profit margin (EBITDA Margin) of the company.
Management vision of new orders worth ₹10,000 crore in 5 years
The vision of the company management is focused on capitalizing on the structural changes coming in the defense sector. After the imposition of import ban (Negative Import List) by the Defense Ministry, opportunities worth billions of dollars have opened up for domestic companies.
Company management goals during the next 5 years ₹8,000 crore to ₹10,000 crore To receive new orders up to Rs. Additionally, the Air Defense and Space sector sees huge business potential (Total Addressable Market) of approximately ₹25,000 crore, in which Astra Microwave is expected to have a leading share.
What are the main points for retail investors?
Astra Microwave has emerged as a midcap stock with strong fundamentals for retail investors looking to bet on the defense theme. According to LSEG data, 6 out of 8 analysts tracking the company have maintained a ‘BUY’ rating or better on it. Strong balance sheet, reduced debt, significant role in space and missile programs and a growing export portfolio make this stock an attractive option for long-term wealth creation.