Defence stocks: Data Patterns, GRSE, Paras Defence, BEML, Mazagon Dock and BEL among others crashed up to 19% in Sunday's intra-day trade even as FM proposed 15% higher Budget spends for the sector.
Budget 2026 impact: The Sensex and the Nifty crashed over 3 per cent each from the respective day's high after FM proposed to hike STT on F&O trading. RIL and SBI were the major laggards.
Unimech Aerospace and Manufacturing, Mtar Technologies and Data Patterns rallied in the range of 5 per cent to 6 per cent on the NSE in intra-day trade.
While analysts acknowledge Bharat Electronics' strong operational performance, healthy order inflows, and strategic initiatives, concerns over valuations have led to divergent recommendations
Data Patterns, Bharat Electronics, CG Power and Industrial Solutions, Siemens Energy India and ABB India rallied in the range of 8 per cent to 14 per cent on the BSE in Wednesday's intra-day trade.
Stocks to buy from agri, defence ahead of Union Budget: Gaurang Shah of Geojit Investments prefers defence shares such as - Bharat Electronics, Cochin Shipyard, MTAR Technologies and BHEL.
Defence Stocks Today: At 11:03 AM on Friday; Nifty India Defence index was up 1.3 per cent, as compared to 0.24 per cent decline in the Nifty 50.
Defence related stocks have rallied up to 5% this year. Sachin Gupta of Choice Broking believes that there is pre-Budget optimism, and projects up to 12% upside in 5 shares based on technical charts.
The brokerage highlights a robust export outlook for companies in renewables and T&D, with select EPC and product companies benefiting from international demand.
Motilal Oswal said the Nifty is trading at a 12-month forward P/E of 21.2x, near its long-period average of 20.8x, suggesting valuations are reasonable.
In its winter session, the Defence Acquisition Council (DAC) approved capital acquisition proposals worth ₹79,000 crore, taking total approvals in FY26 year-to-date (Y-T-D) to around ₹3.3 trillion.
Stock Market Today: The BSE Sensex dropped to an intra-day low of 84,684, with Indian Rupee sliding to 91.05 versus the US dollar on Tuesday.
Stocks to watch today, December 15, 2025: From Tata Elxsi to Aurobindo Pharma, here is a list of stocks to keep in focus
The Nifty Defence index has shed nearly 7 per cent so far in December; the index was seen quoting below the long-term average for the first-ever time.
According to Motilal Oswal, defence electronics continues to see long-term demand for radars, avionics, communication systems and electronic warfare solutions
Motilal Oswal remains positive on Bharat Electronics, Hindustan Aeronautics and Bharat Dynamics, assigning 'Buy' ratings with target prices of ₹500, ₹5,800 and ₹2,000, respectively
Market experts attributed the weakness to a combination of valuation concerns, liquidity pressures and profit booking.
Motilal Oswal said that stable execution and rising export momentum could shape capital goods sectors' H2FY26 outlook
Motilal Oswal Financial Services recommends Reliance Industries and HCL Tech from the large-cap basket, while BEL and M&M Financial are top bets from mid-cap
The Nifty Defence index has shed nearly 3 per cent in November, with stocks such as BEML, MIDHANI and HAL among others falling up to 17% despite 1% gain on the Nifty 50.