New Delhi, Nov. 22 -- Amid a rally in the PSU stocks, Indian defence PSU stocks, Hindustan Aeronautics Ltd (HAL) and Bharat Electronics Ltd (BEL) delivered stellar returns to their respective shareholders. Over the last five years, both defence PSUs have delivered returns of over 1,000% to their shareholders. However, in 2025, the HAL share price has remained an ideal sell-on-rise stock, while the BEL share price has ascended by over 40%.

This has triggered speculation about whether BEL shares are still in a bull trend, and the government's focus and rising expenditure on national security and defence will continue to work as a catalyst for the BEL share price rally.

Highlighting the fundamentals that are fueling BEL's share price, Seem...