Defence Stocks Rally Ahead Of Budget; BEL, Data Patterns, BEML Lead Surge
Defence stocks surged sharply ahead of the Union Budget, with the defence index rising nearly 7% in a single session as buying intensified across the sector. BEL emerged as the top gainer, while stocks such as Data Patterns, BEML, Mishra Dhatu Nigam, Solar Industries, Mazagon Dock and MTAR Technologies also posted strong gains. The rally has sparked speculation over possible budgetary support or policy announcements for the defence sector. However, market experts G Chokkalingam, Founder & MD, Equinomics Research caution that similar pre-budget rallies in defence and railways have often cooled off after the budget. With fiscal constraints limiting the scope for a sharp increase in defence outlay, investors are advised to remain stock-specific, evaluate valuations carefully and consider selective profit-booking after the sharp run-up.
Defence stocks surged sharply ahead of the Union Budget, with the defence index rising nearly 7% in a single session as buying intensified across the sector. BEL emerged as the top gainer, while stocks such as Data Patterns, BEML, Mishra Dhatu Nigam, Solar Industries, Mazagon Dock and MTAR Technologies also posted strong gains. The rally has sparked speculation over possible budgetary support or policy announcements for the defence sector. However, market experts G Chokkalingam, Founder & MD, Equinomics Research caution that similar pre-budget rallies in defence and railways have often cooled off after the budget. With fiscal constraints limiting the scope for a sharp increase in defence outlay, investors are advised to remain stock-specific, evaluate valuations carefully and consider selective profit-booking after the sharp run-up.
What's Your Reaction?
Economist Admin
Admin managing news updates, RSS feed curation, and PR content publishing. Focused on timely, accurate, and impactful information delivery.
