 "Defence shares in focus")
Shares of defence equipment and manufacturers were in focus and rallied by up to 7% on expectation of favourable regulatory changes that will accelerate investment flow into the sector.
Among the individual stocks, Bharat Electronics has rallied 7% to Rs 3,364 on the BSE. BEML surged 5% to Rs 1,049, followed by Dynamatic Technologies and Walchandnagar Industries up 4% each at Rs 3,475 and Rs 196 respectively, while Astra Microwave Products up 3% at Rs 125 and Larsen & Toubro up 2% at Rs 1,664.
According to Business Standard report, through the past year, the government has announced several other regulatory changes, which will result in accelerated investments. For starters, it has increased the foreign direct investment (FDI) cap to 49%, which could include portfolio and private equity investments of up to 25%. This is expected to fuel joint ventures and partnerships. CLICK HERE TO READ FULL REPORT.
Among the individual stocks, Bharat Electronics has rallied 7% to Rs 3,364 on the BSE. BEML surged 5% to Rs 1,049, followed by Dynamatic Technologies and Walchandnagar Industries up 4% each at Rs 3,475 and Rs 196 respectively, while Astra Microwave Products up 3% at Rs 125 and Larsen & Toubro up 2% at Rs 1,664.
According to Business Standard report, through the past year, the government has announced several other regulatory changes, which will result in accelerated investments. For starters, it has increased the foreign direct investment (FDI) cap to 49%, which could include portfolio and private equity investments of up to 25%. This is expected to fuel joint ventures and partnerships. CLICK HERE TO READ FULL REPORT.
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