Business News
India issues orders worth $138 billion in defense sector; HAL, BEL shares on top: Nomura
From the present time, shares of HAL and BEL have started rising by 28 percent and 32 percent respectively in India’s stock research and broking houses.
India’s Defense Ministry is set to place orders worth $138 billion between fiscal years FY24 and FY32, a new report from Nomura says.Due to which the shares of two defense-related companies – Hindustan Aeronautics (HAL) and Bharat Electronics (BEL) will remain on the rise.
From the present time, shares of HAL and BEL have started rising by 28 percent and 32 percent respectively in India’s stock research and broking houses.
The report by Nomura said the Indian government’s focus on indigenous manufacturing through increased defense budget, modernization efforts and groundbreaking initiatives like “Make in India” have spooked world markets.
