Bharat Dynamics shares decline after Q3 results
pre-market1 source ↓written by the desknot a recommendation
- on 2 Feb
- 6%
- year-on-year increase
- 18%
- capital expenditure
- ₹7.6 lakh crore
- Nifty Defence index
- 16 of 18
Shares of Bharat Dynamics fell 6% on 2 Feb, continuing a downward trend in the defence sector. Despite an 18% year-on-year increase in defence capital expenditure to ₹7.6 lakh crore, the lack of significant policy reforms in the Union Budget has dampened market sentiment. Analysts remain optimistic about medium-term order inflows due to higher spending.
• 16 of 18 Nifty Defence index stocks traded lower
• Profit-taking observed amid absence of "big bang" reforms
• Medium-term outlook remains constructive due to increased capital spending.
Not investment advice. For informational purposes only.