Defense stocks have staged a sharp rebound, surging up to 30 percent in a week, driven by domestic order momentum and global military spending.
Speaking of the defence vertical, CMD Kalyani also said that 80 percent of the business is exports and that the company is seeing huge demand from different countries for their defence products.
The notification has specified the fine print for FDI in defense. Prospective investors in the defense sector will have to adhere to 20 guidelines.
Sandeep Nayak, chief executive officer of Centrum Broking joins CNBC-TV18 to throw light on defense-related investments and companies playing the sector. Centrum Broking is organizing a one-day investor conference on the topic tomorrow.