Warships, aircraft or missiles? GRSE vs HAL vs BDL: Which defence PSU wins the post-Q2 results race? Technical outlook

GRSE vs HAL vs BDL: As the corporate earnings season nears its conclusion, recent earnings have put spotlight on three major defence Public Sector Undertakings (PSUs). Garden Reach Shipbuilders & Engineers (GRSE) reported a 12% year-on-year (YoY) increase in consolidated net profit for the second quarter of the financial year 2026-27.Hindustan Aeronautics Limited (HAL) posted a 16% annual surge in net profit, while Bharat Dynamics Limited (BDL) reported a 15% decline in net profit.With all three stocks ending lower on Friday, November 13, 2026, here's a comparison of their Q2 results and technical outlook for GRSE, BDL and HAL.GRSE vs HAL vs BDL: Q2 results, profit, revenueThe warship-building PSU, GRSE, reported a 12% annual increase in its net profit to ₹172 crore for the second quarter of financial year 2026-27. Its net profit was driven by higher revenue from operations.

Its net profit stood at ₹154 crore in the year ago period.The state run aerospace and defence company, HAL, reported a net profit of ₹1,936 crore for the second quarter of FY27, against ₹1,669 crore in the corresponding quarter of FY26. The Bengaluru-based aerospace major witnessed higher revenue and project deliveries during the quarter under review.HAL’s revenue from operations surged by 14.9% on an annual basis to ₹7,613.25 crore from ₹6,628 crore. However, the defence PSU’s operating profitability remained relatively subdued.Bharat Dynamics reported a 15% decline in net profit after tax to ₹180 crore during the quarter under review.

The Hyderabad-based missile systems maker witnessed 46% decline in its absolute EBITDA. But its net revenue increased 45% on an annual basis to ₹1,660 crore.HAL vs Bharat Dynamics vs GRSE: Decoding technical outlook for defence PSUsGRSE stock price action has staged a base reversal off ₹1,850 lows, according to Virat Jagad Sr. Technical Research Analyst at Bonanza, who recommends fresh entry for investors with ‘buy on dips’ investment strategy.According to Jagad, investors can consider ‘Buy on dips’ near ₹2,160- ₹2,205 per share, with stop loss at ₹2,090 and target for ₹2,330/ ₹2,415.Aerospace PSU stock HAL is consolidating in broad range, whereas, shares of defence electronics and missile PSU Bharat Dynamics are trading in a sustained downtrend, according to Jagad.“HAL price is holding above key moving averages, but RSI near 44 indicates weakening momentum.

The ₹5,176 resistance remains a major hurdle. A sustained breakout above this level could trigger fresh upside, while a breakdown below ₹4,750 may weaken the structure,” explains the expert.Bharat Dynamics share price is facing rejection from its 20 and 20 EMAs around ₹1,062–1,112. “Price remains below all major moving averages (20, 50, 100, and 200 EMAs), with RSI near 42.6 indicating weak momentum.

Immediate support lies at the recent swing low around ₹980–1,000. A sustained breakout above ₹1,120 is needed to trigger a recovery, while a breakdown below ₹980 could extend the downside,” added Jagad.HAL vs BDL vs GRSE: Share price trendHAL share price closed 0.42% lower at ₹4819.90 per share on BSE with an Mcap of ₹3,22,342.86 crore on Friday, November 13. Its share price value has declined nearly 3.5% over the last three months, but has surged 4.39% in six months.Shares of BDL closed 2.47% lower at ₹1030.90 per share on BSE with an Mcap of ₹37,788.93 crore on Friday.

The stock has delivered negative 24% return in six months. GRSE share price ended 1.13% lower at ₹2184.65 per share on BSE with an Mcap of ₹25,025.60 crore on Friday, November 13. Its share price value has surged 13.46% in two weeks, but declined 23.46% over the last six months.