Indian Defense Stocks Extend Rally on Earnings Boost, Spending
Defense stocks in India are stretching their rally after a record surge last week, powered by strong earnings and signs of increased spending in the sector.
Nifty's cohort of 18 defense-related stocks soared to a new high Monday, taking gains this year to 28% — the highest among thematic gauges in India. The rally picked up pace amid India-Pakistan tensions as the neighbors conducted military strikes against each other.
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