In defence, Hindustan Aeronautics Ltd (HAL), Bharat Dynamics Ltd (BEL), PTC Industries Ltd and Raymond Ltd were identified as key gainers.
An analyst from Anand Rathi said that Bharat Dynamics Ltd is trading below its 200-DEMA, which indicates prevailing weakness in the broader trend.
The brokerage highlighted that the defence spending outlined for FY27 exceeded its expectations.
Defence Budget rose from Rs 5.73 lakh crore in FY23 to an estimated Rs 7.85 lakh crore in FY27. Capital outlay on defence services also picked up, increasing from Rs 1.43 lakh crore to Rs 2.19 lakh crore during the period, helping Indian defence stocks
Market players expect a sustained government focus on infrastructure-led growth, with higher or steady capex allocations in the Union Budget 2026.
Stocks including Sun Pharma, NPTC, Bajaj Auto, GAIL, Ola Electric, SAIL, Bank of Baroda, IDFC First Bank, Bharat Dynamics and more will be in the spotlight on Sunday, February 01.
Central Bank of India has entered into a strategic distributorship agreement with HSBC Asset Management (India) Private Ltd to offer mutual fund products to its customer base.
MOFSL prefers defence players such as Bharat Electronics Ltd (BEL), Bharat Dynamics Ltd (BDL) and Hindustan Aeronautics Ltd (HAL). Among cement and building material stocks, it likes UltraTech Cement.
Bharat Electronics Ltd (BEL) fell 2.26 per cent to Rs 399.75 on BSE. Bharat Dynamics Ltd (BDL) declined 2.06 per cent at Rs 1,421.90. Hindustan Aeronautics Ltd (HAL) dropped 1.43 per cent to Rs 4,289.25.
Elara suggested an ‘Accumulate’ rating on Bharat Electronics Ltd (BEL) and Bharat Dynamics Ltd (BDL), a ‘Buy’ rating on HAL, BEML and Zen Technologies Ltd, and a ‘Sell’ rating on GRSE.
Elara Capital sees Q3FY26 order inflows for capital goods (excluding L&T) down 20% YoY, defence inflows 52% lower.





