Rs 1.1 lk cr DAC push: Macquarie, Jefferies see up to 39% upside in these defence stocks
The Indian government has approved defence procurement worth Rs 1.10 lakh crore for the Army, Navy, and Air Force. The Defence Acquisition Council has given the green light for a variety of equipment, with 98% to be sourced from Indian industry. This is a significant boost for domestic defence manufacturers and highlights the growing opportunity for Indian companies.