{"id":261393,"date":"2026-09-22T11:36:08","date_gmt":"2026-09-22T06:06:08","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=261393"},"modified":"2026-09-22T11:36:08","modified_gmt":"2026-09-22T06:06:08","slug":"bharat-electronics-vs-hal-vs-mazagon-dock-comparison","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/","title":{"rendered":"Bharat Electronics vs HAL vs Mazagon Dock: Side-by-Side Comparison of India&#8217;s Top Defence Stocks"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders compared on market cap, valuation, ROE, 52-week range and dividend yield. Data as of September 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders is a side-by-side comparison of three of India&#8217;s leading listed defence PSUs. Bharat Electronics carries the largest market cap of the three, narrowly ahead of Hindustan Aeronautics, while Mazagon Dock Shipbuilders is considerably smaller but trades at a mid-range PE among the trio. Each company&#8217;s numbers are presented here without a declared &#8220;better&#8221; pick, since the right stock depends on an investor&#8217;s own criteria.<\/p>\n<\/p><\/div>\n<p>Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders starts with the core numbers most investors compare across leading listed defence PSUs: market capitalisation, valuation, profitability, and the 52-week trading range. Figures below are as of September 2026 and will shift with daily price moves.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=3stock-compare\"><strong>Tap to Access Best Research Pieces on Univest<\/strong><\/a><\/p>\n<p style=\"font-style:italic;color:#000000;margin:14px 0;\">Also read &#8211; <a href=\"https:\/\/univest.in\/blogs\/hdfc-bank-vs-icici-bank-vs-axis-bank-comparison\">HDFC Bank vs ICICI Bank vs Axis Bank: Side-by-Side Comparison of Three Leading Private Banks<\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#Bharat_Electronics_vs_Hindustan_Aeronautics_vs_Mazagon_Dock_Shipbuilders_Key_Metrics_at_a_Glance\" title=\"Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders: Key Metrics at a Glance\">Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders: Key Metrics at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#Valuation_Comparison_PE_and_PB_Ratios\" title=\"Valuation Comparison: PE and PB Ratios\">Valuation Comparison: PE and PB Ratios<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#Profitability_Comparison_Return_on_Equity\" title=\"Profitability Comparison: Return on Equity\">Profitability Comparison: Return on Equity<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#52-Week_Trading_Range_Comparison\" title=\"52-Week Trading Range Comparison\">52-Week Trading Range Comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#Dividend_Yield_Comparison\" title=\"Dividend Yield Comparison\">Dividend Yield Comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#What_Should_Investors_Look_at_Beyond_These_Numbers\" title=\"What Should Investors Look at Beyond These Numbers?\">What Should Investors Look at Beyond These Numbers?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#FAQs_on_Bharat_Electronics_vs_Hindustan_Aeronautics_vs_Mazagon_Dock_Shipbuilders\" title=\"FAQs on Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders\">FAQs on Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#What_is_the_market_cap_difference_between_Bharat_Electronics_Hindustan_Aeronautics_and_Mazagon_Dock_Shipbuilders\" title=\"What is the market cap difference between Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders?\">What is the market cap difference between Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#Which_of_the_three_has_the_highest_PE_ratio\" title=\"Which of the three has the highest PE ratio?\">Which of the three has the highest PE ratio?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#Which_of_the_three_has_the_highest_ROE\" title=\"Which of the three has the highest ROE?\">Which of the three has the highest ROE?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#What_is_the_52-week_range_for_Bharat_Electronics_Hindustan_Aeronautics_and_Mazagon_Dock_Shipbuilders\" title=\"What is the 52-week range for Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders?\">What is the 52-week range for Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#Which_of_these_three_stocks_pays_the_highest_dividend_yield\" title=\"Which of these three stocks pays the highest dividend yield?\">Which of these three stocks pays the highest dividend yield?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#Which_defence_stock_has_the_highest_market_cap\" title=\"Which defence stock has the highest market cap?\">Which defence stock has the highest market cap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#Why_do_defence_stocks_often_move_on_order-flow_news_rather_than_valuation_ratios\" title=\"Why do defence stocks often move on order-flow news rather than valuation ratios?\">Why do defence stocks often move on order-flow news rather than valuation ratios?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison\/#Is_one_of_Bharat_Electronics_Hindustan_Aeronautics_or_Mazagon_Dock_Shipbuilders_better_than_the_others\" title=\"Is one of Bharat Electronics, Hindustan Aeronautics or Mazagon Dock Shipbuilders better than the others?\">Is one of Bharat Electronics, Hindustan Aeronautics or Mazagon Dock Shipbuilders better than the others?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Bharat_Electronics_vs_Hindustan_Aeronautics_vs_Mazagon_Dock_Shipbuilders_Key_Metrics_at_a_Glance\"><\/span><strong>Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders: Key Metrics at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table border=\"1\" cellpadding=\"6\" cellspacing=\"0\" style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th>Metric<\/th>\n<th>Bharat Electronics<\/th>\n<th>Hindustan Aeronautics<\/th>\n<th>Mazagon Dock Shipbuilders<\/th>\n<\/tr>\n<tr>\n<td>Market Cap (approx.)<\/td>\n<td>Rs 3,03,502 crore<\/td>\n<td>Rs 2,96,515 crore<\/td>\n<td>Rs 1,03,029 crore<\/td>\n<\/tr>\n<tr>\n<td>PE Ratio (TTM)<\/td>\n<td>50.21<\/td>\n<td>32.67<\/td>\n<td>42.30<\/td>\n<\/tr>\n<tr>\n<td>PB Ratio<\/td>\n<td>Not disclosed<\/td>\n<td>Not disclosed<\/td>\n<td>Not disclosed<\/td>\n<\/tr>\n<tr>\n<td>ROE (%)<\/td>\n<td>Not disclosed<\/td>\n<td>Not disclosed<\/td>\n<td>Not disclosed<\/td>\n<\/tr>\n<tr>\n<td>52-Week High<\/td>\n<td>Not disclosed<\/td>\n<td>Not disclosed<\/td>\n<td>Not disclosed<\/td>\n<\/tr>\n<tr>\n<td>52-Week Low<\/td>\n<td>Not disclosed<\/td>\n<td>Not disclosed<\/td>\n<td>Not disclosed<\/td>\n<\/tr>\n<tr>\n<td>Dividend Yield<\/td>\n<td>0.61%<\/td>\n<td>0.79%<\/td>\n<td>0.71%<\/td>\n<\/tr>\n<\/table>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Valuation_Comparison_PE_and_PB_Ratios\"><\/span><strong>Valuation Comparison: PE and PB Ratios<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On valuation, Hindustan Aeronautics trades at the lowest PE ratio of the three at 32.67, Mazagon Dock Shipbuilders follows at 42.30, while Bharat Electronics commands the highest PE at 50.21, reflecting the premium the market has assigned to its diversified electronics and defence systems order book.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Profitability_Comparison_Return_on_Equity\"><\/span><strong>Profitability Comparison: Return on Equity<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Return on equity figures for this trio were not available in the same data snapshot used for valuation and market cap here; investors should check current ROE for each company directly on the Univest Screener before drawing conclusions on capital efficiency.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"52-Week_Trading_Range_Comparison\"><\/span><strong>52-Week Trading Range Comparison<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>52-week high and low figures for this trio were not available in the same data snapshot used for market cap and PE here; investors should check current 52-week ranges for each stock directly on the Univest Screener or NSE.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders live prices.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dividend_Yield_Comparison\"><\/span><strong>Dividend Yield Comparison<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Hindustan Aeronautics offers the highest dividend yield among the three at 0.79%, followed by Mazagon Dock Shipbuilders at 0.71% and Bharat Electronics at 0.61%, though dividend yields across this trio remain modest given their growth-stage capex and order-execution focus.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Should_Investors_Look_at_Beyond_These_Numbers\"><\/span><strong>What Should Investors Look at Beyond These Numbers?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Beyond the metrics above, investors comparing these three defence PSUs should track each company&#8217;s order book size and execution timelines, indigenisation targets under India&#8217;s defence procurement policy, and export order wins, since defence stocks have historically re-rated sharply on order-flow newsflow rather than trailing valuation ratios alone.<\/p>\n<p style=\"font-style:italic;color:#000000;margin:14px 0;\">Also read &#8211; <a href=\"https:\/\/univest.in\/blogs\/tcs-vs-infosys-vs-wipro-comparison\">TCS vs Infosys vs Wipro: Side-by-Side Comparison of India&#8217;s Top IT Services Stocks<\/a><\/p>\n<p><strong>Snapshot:<\/strong> Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders is a widely searched comparison among investors tracking this sector. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders highlights differences in valuation. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders highlights differences in profitability. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders highlights differences in dividend yield. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders is best read as a factual snapshot rather than a recommendation.<\/p>\n<p><strong>In short:<\/strong> Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders remains one of the most-searched sector comparisons on Dalal Street. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders draws attention every earnings season. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders is tracked closely by retail and institutional investors alike. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders numbers should always be checked live before acting.<\/p>\n<p><strong>Quick recap:<\/strong> Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders. Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders data as of September 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders highlights how differently three leading names in the same sector can score across valuation, profitability and dividend metrics, even when operating in the same space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information as of September 2026 and may not reflect real-time prices. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. This comparison does not recommend or endorse any single stock over another; investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Bharat_Electronics_vs_Hindustan_Aeronautics_vs_Mazagon_Dock_Shipbuilders\"><\/span><strong>FAQs on Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_market_cap_difference_between_Bharat_Electronics_Hindustan_Aeronautics_and_Mazagon_Dock_Shipbuilders\"><\/span><strong>What is the market cap difference between Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of September 2026, Bharat Electronics has a market cap of approximately Rs 3,03,502 crore, Hindustan Aeronautics is at approximately Rs 2,96,515 crore, and Mazagon Dock Shipbuilders is at approximately Rs 1,03,029 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_the_three_has_the_highest_PE_ratio\"><\/span><strong>Which of the three has the highest PE ratio?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Among Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders, the PE ratios stand at 50.21, 32.67 and 42.30 respectively as of September 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_the_three_has_the_highest_ROE\"><\/span><strong>Which of the three has the highest ROE?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders post ROE of Not disclosed, Not disclosed and Not disclosed respectively as of September 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_52-week_range_for_Bharat_Electronics_Hindustan_Aeronautics_and_Mazagon_Dock_Shipbuilders\"><\/span><strong>What is the 52-week range for Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Bharat Electronics has traded between Not disclosed and Not disclosed, Hindustan Aeronautics between Not disclosed and Not disclosed, and Mazagon Dock Shipbuilders between Not disclosed and Not disclosed over the past 52 weeks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_three_stocks_pays_the_highest_dividend_yield\"><\/span><strong>Which of these three stocks pays the highest dividend yield?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders carry dividend yields of 0.61%, 0.79% and 0.71% respectively as of September 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_defence_stock_has_the_highest_market_cap\"><\/span><strong>Which defence stock has the highest market cap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Bharat Electronics has the largest market cap among the three at approximately Rs 3,03,502 crore, narrowly ahead of Hindustan Aeronautics at around Rs 2,96,515 crore, with Mazagon Dock Shipbuilders considerably smaller at around Rs 1,03,029 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_do_defence_stocks_often_move_on_order-flow_news_rather_than_valuation_ratios\"><\/span><strong>Why do defence stocks often move on order-flow news rather than valuation ratios?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Defence stocks often move on order-flow news because large, lumpy government contract wins can materially change a company&#8217;s revenue visibility for years, which tends to matter more to investors than trailing valuation multiples.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_one_of_Bharat_Electronics_Hindustan_Aeronautics_or_Mazagon_Dock_Shipbuilders_better_than_the_others\"><\/span><strong>Is one of Bharat Electronics, Hindustan Aeronautics or Mazagon Dock Shipbuilders better than the others?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This comparison does not declare one stock better than another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor&#8217;s own criteria and research.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the market cap difference between Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"As of September 2026, Bharat Electronics has a market cap of approximately Rs 3,03,502 crore, Hindustan Aeronautics is at approximately Rs 2,96,515 crore, and Mazagon Dock Shipbuilders is at approximately Rs 1,03,029 crore.\"}},{\"@type\":\"Question\",\"name\":\"Which of the three has the highest PE ratio?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Among Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders, the PE ratios stand at 50.21, 32.67 and 42.30 respectively as of September 2026.\"}},{\"@type\":\"Question\",\"name\":\"Which of the three has the highest ROE?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders post ROE of Not disclosed, Not disclosed and Not disclosed respectively as of September 2026.\"}},{\"@type\":\"Question\",\"name\":\"What is the 52-week range for Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Bharat Electronics has traded between Not disclosed and Not disclosed, Hindustan Aeronautics between Not disclosed and Not disclosed, and Mazagon Dock Shipbuilders between Not disclosed and Not disclosed over the past 52 weeks.\"}},{\"@type\":\"Question\",\"name\":\"Which of these three stocks pays the highest dividend yield?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Bharat Electronics, Hindustan Aeronautics and Mazagon Dock Shipbuilders carry dividend yields of 0.61%, 0.79% and 0.71% respectively as of September 2026.\"}},{\"@type\":\"Question\",\"name\":\"Which defence stock has the highest market cap?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Bharat Electronics has the largest market cap among the three at approximately Rs 3,03,502 crore, narrowly ahead of Hindustan Aeronautics at around Rs 2,96,515 crore, with Mazagon Dock Shipbuilders considerably smaller at around Rs 1,03,029 crore.\"}},{\"@type\":\"Question\",\"name\":\"Why do defence stocks often move on order-flow news rather than valuation ratios?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Defence stocks often move on order-flow news because large, lumpy government contract wins can materially change a company's revenue visibility for years, which tends to matter more to investors than trailing valuation multiples.\"}},{\"@type\":\"Question\",\"name\":\"Is one of Bharat Electronics, Hindustan Aeronautics or Mazagon Dock Shipbuilders better than the others?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This comparison does not declare one stock better than another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor's own criteria and research.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders compared on market cap, valuation and dividend yield, as of September 2026.<\/p>\n","protected":false},"author":29,"featured_media":261392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[6454,6453,6456,6455],"class_list":["post-261393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-bharat-electronics-hal-mazagon-dock-comparison","tag-bharat-electronics-vs-hindustan-aeronautics-vs-mazagon-dock-shipbuilders","tag-defence-psu-order-book","tag-defence-stocks-india-comparison"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["261392"],"rank_math_title":["Bharat Electronics vs HAL vs Mazagon Dock: Comparison"],"rank_math_description":["Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders compared on market cap, valuation and dividend yield among India's listed defence stocks, as of September 2026."],"rank_math_focus_keyword":["Bharat Electronics vs Hindustan Aeronautics vs Mazagon Dock Shipbuilders | Density Target: 1.5-2.6%"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/09\/bharat-electronics-vs-hal-vs-mazagon-dock-comparison.png","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/261393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=261393"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/261393\/revisions"}],"predecessor-version":[{"id":261394,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/261393\/revisions\/261394"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/261392"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=261393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=261393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=261393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}