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HAL, Bharat Dynamics, BEL, other defence stocks zoom to lifetime highs on exit poll impact

Shares of Hindustan Aeronautics, Bharat Dynamics, BEML, Bharat Electronics and several other defence companies hit all-time high on June 3 after exit polls showed a policy continuity by the PM Modi government.

June 03, 2024 / 15:12 IST
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The focus of Modi 3.0 is likely to continue on developing the country’s public infrastructure, such as roads, water, metro, railways, defence, digital infrastructure, and green technologies, according to Axis Securities.

Shares of Shares of Hindustan Aeronautics (HAL), Bharat Dynamics (BDL), Bharat Electronics (BEL), and BEML rose up to nearly 10 percent to hit all-time highs on June 3 after exit polls showed a policy continuity by the incumbent government.

The estimates of most exit poll suggest a solid win for the NDA, surpassing the 350+mark and BJP with 300+ mark and with better traction for the BJP in skeptical states.

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If the actual election results are in line with the exit polls, it will be the first time since the 1960s that an incumbent Prime Minister will return to power for a third consecutive term with a comfortable majority.

The focus of Modi 3.0 is likely to continue on developing the country’s public infrastructure, such as roads, water, metro, railways, defence, digital infrastructure, and green technologies, according to Axis Securities.