Shares of defence companies will be in spotlight in the run-up to the Budget 2023, with the hopes of increased spending on domestic manufacturing.
The budget allocation has risen 46 per cent in the last five years, with 3,85,370 crore allocated in the Budget 2022. Through such budgetary initiative, the Government has prioritised the defence sector, encouraging increased private sector involvement.
Among listed players, shares of Bharat Dynamics, Hindustan Aeronautics, and Bharat Electronics have so far skyrocket 87 per cent, 79 per cent, and 44 per cent, each, since Budget 2022.
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