Multibagger stock to buy: Up 150% in 2026 so far! Will rally sustain in defence-engineering share? Experts views, target
Multibagger defence stock to buy today: Shares of Raymond Ltd have remained the bulls' favourite throughout the year. The defence stock has skyrocketed from around ₹425 to ₹1,050 per share in 2026, logging a YTD rally of around 150%.
According to stock market experts, the defence-engineering stock is attracting bulls' attention because of the company’s transformation into an aerospace, defence and engineering-focused business. They said that the company's move to change its name from Raymond Ltd to Raymond Aerospace, Defence & Engineering Limited is also helping attract investors' attention to the stock. They said that the rally in the multibagger stock may continue, as the company's order book has attracted fresh orders in bulk, and the board of directors has gone for a fundraise to meet these fresh orders. They advised existing shareholders to hold the scrip with a predicted short-term target of ₹1,235.
Speaking on the reasons that are fueling Raymond's shares, Avinash Gorakshkar, Founder of Avinash Mentor Research, said, “The continuous rally in the defence-engineering stock can be attributed to three major reasons: transformation into a defence company, strong order book, and capex expansion to meet demand.”
Gorakshkar said that Raymond shares have been attracting investor attention largely due to the company’s transformation into an aerospace, defence, and engineering-focused business, alongside fresh orders, expansion plans, and a major fundraising announcement. The latest developments also include a proposed name change to reflect this new business focus.
Pointing towards the strong order book of the company, Nitant Darekar, Research Analyst at Bonanza, said, “Aerospace and Defence is the swing factor, growing 40 per cent to ₹123 crore against a ten-year order book of over ₹5,960 crore. The fresh multi-programme win covering 300-plus part numbers adds only about Rs. 33 crore annually but confirms domestic defence traction. Rs. 129 crore net cash funds the Rs. 1,000 crore capex, though after the sharp re-rating, execution must now do the heavy lifting.”
Raymond Limited is expanding its manufacturing capacity in Andhra Pradesh with an additional brownfield facility near its existing Mega manufacturing unit, as per the exchange filing. The new facility is intended to handle additional customer requirements and volumes during the current financial year.
The company announced the expansion on October 12, 2026, and confirmed that its planned greenfield project in the state is progressing as scheduled.
“The outlook for Raymond Limited is positive with respect to the post-demerger business structure, which allows investors to get a better understanding of its growth potential in the domain of engineering and aerospace. Given that there was considerable interest from the part of the investors recently, it means that the market has begun to see value in these businesses,”Siddharth Maurya, Founder & Managing Director, Vibhavangal Anukulakara Pvt. Ltd.
Expecting the bull trend to continue, Mahesh M Ojha, VP — Research and Business Development at KC Securities, said, “The stock is looking bullish on the technical chart. Existing shareholders can hold the scrip, maintaining a strict stop-loss below ₹960. The multibagger stock is facing a hurdle at ₹1,125. On breaking above this resistance, we can expect the stock to come close to ₹1,235.”
On suggestions for fresh investors, Mahesh M Ojha said that fresh investors can buy the stock at the current market price and keep accumulating on bid dips, maintaining a stop-loss below ₹960 on a closing basis. They can also buy and hold the scrip for the short-term target of ₹1,235.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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