Top Defence Stocks To Watch Out As India Approves Rs 70,500-Crore Order
NDTV
India's recent purchase of military equipment worth Rs 705 billion (bn) has given a fresh boost to the defence sector.
Over the past one year or so, ever since Russia made its sinister intentions clear after invading Ukraine, the world has woken up to the possible threats of autocratic military powers.
The lesson that India learnt the hard way was it needed to be self-reliant in the defence sector. Ever since then, Indian defence stocks have been on a steady rise.
The rally in defence stocks is driven by a range of factors such as geopolitical tensions, increased defence spending, and the government's focus on self-reliance in defence production.
However, the recent decision by the Defence Acquisition Council (DAC) to accord Acceptance of Necessity to projects worth Rs 705 billion (bn) has given a fresh boost to the sector.
