Defence stocks in demand

Shares of six defence equipment companies rose by 0.19% to 2.33% at 12:08 IST on BSE after the government allocated Rs 3 lakh crore for defence budget.

Bharat Electronics (up 2.33%), BEML (up 1.78%), Reliance Naval and Engineering (up 1.01%), Larsen & Toubro (up 0.96%), Bharat Forge (up 0.5%) and Premier Explosives (up 0.19%), edged higher.

The S&P BSE Sensex was up 128.40 points, or 0.35% at 36,385.09.

Additional funds will be provided if needed for border security, Finance Minister Piyush Goyal said in the interim budget 2019-20.

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