HFCL shares rallied nearly 5% after the Andhra Pradesh government allotted 1,000 acres of land in Sri Sathya Sai district for setting up defence manufacturing facilities. Phase I will see 329 acres handed over, followed by 671 acres in Phase II. Broader defence stocks like Apollo Micro Systems and GRSE also surged on optimism over sectoral growth.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets