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Street signs: Defence stocks may rise, Mankind Pharma IPO, and more

After having recorded seven straight months of outflows, equity savings schemes are expected to witness a change of fortune in the months ahead

BSE, stock market, sensex
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Sundar SethuramanAbhishek Kumar Mumbai

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Higher capital outlay ammo to fire up defence stocks
 
The shares of Bharat Electronics (BEL) and Bharat Dynamics (BDL) are likely to rise in the next two financial years as capital outlay on the Army and Navy is likely to pick up through 2024-25 (FY25). According to analysts, the allocation for the Army might go up to Rs 500-700 billion in FY25. The capital outlay on the Navy until FY25 is likely to be Rs 923 billion. “Based on recent contracts awarded by the Ministry of Defence and the existing pipeline, we believe BEL is likely to be the primary

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First Published: Apr 24 2023 | 6:03 AM IST

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