Thus far in the month of February, the Nifty India Defence index slipped 5.5 per cent, as against 1.3 per cent rise in the Nifty 50.
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.
Market experts attributed the weakness to a combination of valuation concerns, liquidity pressures and profit booking.
Unimech Aerospace shares rose 3 per cent after it approved an investment of up to ₹5.53 crore to acquire a stake in Dheya Engineering Technologies
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