Key Points
Finance Minister Nirmala Sitharaman's Interim Budget for 2024-25 speech did not include any significant announcement pertaining to the defence sector, which prompted a varied response in the stock market on Thursday, February 1. ..
Major defence stocks like Hindustan Aeronautics Ltd (HAL) and Bharat Electronics Ltd (BEL) fell over 1.74 percent and 1.80 percent during an intraday trade on Thursday at noon..
Meanwhile, shares of Data Patterns and Bharat Dynamics also slumped by 3.71 percent and 1.80 percent post announcement..
It is to be noted that the Interim Budget 2024-25 allocated the lion's share to the defence sector with an allocation of 6.2 lakh crore, a 13 percent increase over the previous years..
During her Interim Budget speech, Finance Minister Nirmala Sitharaman also announced the plans to launch a new scheme aimed at bolstering advanced technologies for defence purposes and accelerating the 'Atmanirbharta' (self-reliance) initiative..
