'Exorbitant multiples': Mazagon Dock, BEL, HAL, Paras Defence stocks get 'sell', price target cuts from Nirmal Bang. Here's why

Defence stocks: Nirmal Bang cut its target price on Astra Microwave Products to Rs 894 from Rs 968 earlier. It reduced its target for Bharat Dynamics to Rs 1,508 from Rs 1,563.  The price target for BEL has been slashed to Rs 256 from Rs 328.
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