Brokerages pick BEL, BEML, Hindustan Aeronautics, MTAR Technologies from defence space post budget announcements
In order to reduce imports and promote Prime Minister Narendra Modi's ambitious Atma Nirbhar Bharat, Finance Minister Nirmala Sitharaman has announced to keep 68% of defence Capex for domestic consumption.
The government is strategically focusing on increasing indigenous defense manufacturing to become self-reliant, which is likely to benefit the Indian defence companies