India's defence stocks gain on report of new orders

Bharat Dynamics

16/02/2024 08:35

** India's Bharat Electronics  BAJE.NS  and Hindustan
Aeronautics  HIAE.NS  up over 2% each
    ** Bharat Dynamics  BARA.NS  jumps 7%
    ** Country's defence acquisition council likely approved
proposal to buy 800 bln rupees worth defence equipment and
orders likely to be issued to state-run firms, CNBC-TV18 reports
    ** The three stocks surged 81%-122% in 2023 vs 55% jump in
public sector utility stocks  .BSEPSU 
    ** The trio are up 3%-10% YTD

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))