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.
NSE India Defence index was quoting higher for the third straight trading day, surging 3.7% during the period, as against 0.14% decline in the Nifty 50.
Nuvama Institutional Equities and Choice Institutional Equities have maintained their 'Buy' ratings on the Bharat after the company reported an 18 per cent rise in net profit to ₹1,286 crore in Q2FY26
On Thursday, the MoD said the Defence Acquisition Council approved procurement proposals worth ₹79,000 crore
Stocks to Watch today: Infosys, LTIMindtree, Bharat Electronics, Ola Electric, United Breweries, Federal Bank and Rubicon Research are among the stocks to watch today, October 23, 2025
At 10:20 AM; Nifty India Defence index was up 1.5 per cent, as compared to 0.35 per cent rise in Nifty 50 in Friday's trade.
Stocks to watch today: Angle One, KEI Industries, Jyoti Structures and KEC International are among other top stocks to track today:
Pro-growth policy measures such as the government's proposed goods and services tax (GST) rationalisation are expected to aid consumption
Among individual stocks, Solar Industries, Bharat Electronics, Data Patterns and PTC Industries are Goldman Sachs' top buy ideas, while Bharat Dynamics has been rated Sell'.
Bank of Baroda is displaying constructive price action as it consolidates near the upper band of its recent range while holding firmly above key moving averages.
Hero MotoCorp (HMCL) reported a strong start to the festive season with robust traction across dealerships and expects record festive sales.
Motilal Oswal analysts retained their 'Buy' rating on BEL with a target price of ₹490, based on 45 times September 2027 estimated earnings.
Order wins, strong pipeline, and long-term defence projects drive optimism in Bharat Electronics, with revenue growth visibility and major contracts like QRSAM and Project Kusha ahead
The brokerage has assigned an 'Add' rating to HAL and BEL, with target prices of ₹6,325 and ₹459, respectively, while Bharat Dynamics, Astra Microwave, and Data Patterns remain 'Not Rated.'
Thus far in the month of September, Bharat Electronics stock has outperformed the market by surging 11 per cent, as compared to 3.5 per cent rise in the BSE Sensex.
At 10:32 AM; Nifty India Defence index was up 2.6 per cent, as compared to 0.28 per cent rise in Nifty 50.
BEL share price rose after the company announced that it will pay the dividend of ₹0.90 per share on September 23, 2025.