look news india
The Union Budget for the financial year 2024-25 is to be presented on 23 July 2024. This time the budget of Finance Minister Nirmala Sitharaman is expected to provide great relief to the common man. The budget speech of the Finance Minister can also give a signal to the stock market. Now it remains to be seen whether the defense sector stocks will benefit. Talking about one month, defense stocks have given big returns.
The return on defense stocks was up to 90 percent
Shares of GRSE, a government defence company that builds ships, have given a return of 90 per cent in 1 month. Also, Mazgam Dock's share return has been 73 per cent. Thus, in the last month, Paras Defence has given a return of 63 per cent, Cochin Shipyard has given a return of 49 per cent and Bharat Earth Movers Limited has given a return of 28 per cent.
Investors earned more than Rs 1 lakh crore
Talking about last month, if we look at the returns of the country's top-10 defense companies, their total market capitalization has increased by more than Rs 1 lakh crore. This means that the total wealth of all the investors of this stock has increased significantly.
Government's focus is on self-reliant India
To take advantage of the global conditions created during the Corona period, the Government of India started emphasizing on self-reliant India. This has strengthened the order book of domestic defense companies. There are so many orders from Hindustan Aeronautics to Cochin Shipyard that it will take a lot of time to fulfill them. This time too, the government's focus in the budget will be on self-reliant India because employment generation has become a big challenge at this time. Along with this, the government has also prepared a plan for defense corridors in different parts of the country, which is now expected to move forward rapidly.