India’s defence sector is in a strong multi-year upcycle, backed by record order books, rising indigenisation and export demand, says Nirmal Bang’s Jyoti Gupta. While execution will remain milestone-driven and lumpy, structural growth, stable margins and higher budget support keep outlook positive. HAL, BEML, Data Patterns and Solar Industries remain key picks.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets