Branch2 Intelligence
Defence Stocks In Focus: HAL, BEL Among ICICI Securities' Top Bets Amid Order Surge
Key takeaway
ICICI Securities flags defence stocks HAL and BEL as top bets on MoD's Rs 3 trillion capital outlay target by CY29.
- Step 11st-order: MoD targets Rs 3 trillion capital outlay by CY29 for military modernisation, signalling sustained defence spending.
- Step 22nd-order: HAL and BEL receive larger order books for aerospace and electronics, driving revenue growth and margin expansion.
- Step 33rd-order: Private defence suppliers (Solar Industries, L&T) gain contracts as MoD diversifies sourcing, while import-dependent peers face substitution risk.
Source: IN:NDTV Profit
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