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Defence stocks rally after FM Goyal announces Rs 3 lakh crore Budget for FY20

The likes of Larsen and Toubro, Bharat Electronics, Walchandnagar Industries, Reliance Naval and Bharat Dynamics, among others, rose a little over 1 percent.

February 01, 2019 / 11:58 AM IST
Ankush, son of Indian Army JCO Madan Lal Choudhary, who was killed in the terrorist attack at Sunjuwan Army camp,  salutes his father's mortal remains at village Bakrak in Hiranagar, 60 kms from Jammu on Monday. (PTI)

Ankush, son of Indian Army JCO Madan Lal Choudhary, who was killed in the terrorist attack at Sunjuwan Army camp, salutes his father's mortal remains at village Bakrak in Hiranagar, 60 kms from Jammu on Monday. (PTI)

Shares of defence companies soared in trade as the government announced a defence budget of Rs 3 lakh crore for FY20.

The likes of Larsen and Toubro, Bharat Electronics, Walchandnagar Industries, Reliance Naval and Bharat Dynamics, among others, rose a little over 1 percent.

defence

Finance Minister Piyush Goyal announced the Defence Budget during his speech in the Parliament. Further, he said that more funds will be allocated if needed.

Brokerage house Karvy believes that stocks such as BEL, Astra Microwave Products and Premier Explosives are likely to be key beneficiaries of the Budget announcement.
Moneycontrol News
first published: Feb 1, 2019 11:57 am

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