New Delhi, Feb. 19 -- In order to improve India's defence needs and infrastructure, the defence Acquisition Council (DAC) authorised contracts on Friday, February 16, totalling over Rs.84,560 crore.

In its report, brokerage house Nuvama Institutional Equities stated that the Ministry of Defence had taken a tactical move based on lessons learned. The report highlighted that private players across the defence value chain would benefit by becoming tier 2/3 component suppliers, with Hindustan Aeronautics Ltd (HAL), Bharat Electronics Ltd (BEL), and Bharat Dynamics Ltd being the main beneficiaries.

Also Read: Defence stocks rise as DAC sanctions Rs.80,000 crore project; HAL up 2%; MTAR Tech, Bharat Forge see sharp gains

According to Brokera...