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.
Midhani is expected to benefit substantially from robust order prospects, new product developments with increasing indigenisation
Market experts attributed the weakness to a combination of valuation concerns, liquidity pressures and profit booking.