Motilal Oswal Financial Services Ltd (MOFSL) on Monday maintained its constructive view on India’s defence sector and highlighted Bharat Electronics (BEL), Hindustan Aeronautics (HAL) and Bharat Dynamics (BDL) as its preferred stock ideas. The brokerage said the sector has seen a series of favourable developments, including ongoing negotiations with multiple countries for defence deals and exports, recent Defence Acquisition Council (DAC( approvals, progress on the TPCR roadmap, continued emergency procurement and expectations of a higher allocation in the Union Budget. These developments, it said, eased concerns around future order inflows and suggested that ordering activity would remain strong. Advertisement

MOFSL said export opportunities would gradually open up as defence PSUs scale

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