Best PSU Stocks in India in January 2026: HAL, BDL, NBCC, and More Based on 5Y CAGR!

By 2029, the Indian government aims to export ₹50,000 crore of defence vehicles and equipments. This year, the NIFTY Defence index has rallied by nearly 24%, led by stocks like BEL. Rising policy support and increasing investments in defence production has put some PSU stocks in spotlight for the month of January 2026. 

In this article, we break down the top stocks that are catching investor’s attention due to their order book sizes and long-term revenue visibility. 

Best PSU Stocks in India in January 2026 Based on 5Y CAGR

Overview of the Best PSU Stocks in January 2026

HAL

HAL has an order book size exceeding ₹2 lakh crore, which largely comprises of indigenous platforms such as Tejas, Prachand, HTT-40 and different helicopters. The company is making steady progress on designing and manufacturing next-generation systems like unmanned combat aircraft. 

BEL

BEL has reported strong order momentum, securing fresh defence orders worth ₹569 crore and additional contracts of ₹776 crore since November 14, 2025, spanning radars, communication equipment, fire control systems, and indigenous counter-drone solutions. Adding to the positive outlook, BEL received an ESG score of 65 from NSE Sustainability Ratings, highlighting progress in its sustainability and governance practices.

Bharat Dynamics

Bharat Dynamics expects its order book to reach a size of ₹36,000 crore by FY26. The company is targeting an annual growth rate of 20–25%, with plans to double revenue over the next 2-3 years, thereby indicating positive signals for India’s defence manufacturing space.

In a separate development, India is planning a ₹10,000 crore missile agreement with Russia to strengthen bilateral defence ties and support domestic military modernisation efforts. This is expected to benefit the company positively. 

NALCO

NALCO has confirmed the award of a ₹5,032 crore, 25-year Mine Developer and Operator (MDO) contract to Dilip Buildcon for the development and operation of the Pottangi bauxite mines. The contract, with base mining charges fixed at ₹423 per tonne, provides long-term revenue visibility for Dilip Buildcon while strengthening Nalco’s raw material security, supporting a positive outlook for both companies.

NBCC

NBCC (India) Limited is a Navratna CPSE under the Ministry of Housing and Urban Affairs, operating across PMC, real estate development, and EPC. The company recently unlocked significant value by resolving the 57-year-old Ghitorni land dispute in Delhi, securing full development rights over 21.23 acres with a revenue potential of ₹8,500 crore. 

NBCC also strengthened its asset-light PMC model through a Mumbai Port Authority project, earning a fixed 7% fee. Additionally, its first overseas land purchase in Dubai marks a strategic step toward international real estate development.

Best PSU Stocks in India in January 2026 Based on RoE, EPS, and PB Ratio

Read more: Defence Stocks in Focus: DAC Approves Proposals to Acquire Weapons Systems Worth ₹80,000 Crore.

Conclusion

As January 2026 begins, PSU stocks backed by strong order books, policy support, and improving financial metrics continue to attract investor interest. Defence-focused names like HAL, BEL, and Bharat Dynamics benefit from long-term revenue visibility, while NALCO and NBCC add diversification through resources and infrastructure. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.