India, Jan. 1 -- India's defence sector is back in focus after brokerage firm Motilal Oswal highlighted five defence stocks that could deliver up to 38 percent upside in the coming years. This optimism comes at a time when the government is pushing hard on defence modernisation, creating strong long-term opportunities for both public and private defence companies.

Motilal Oswal's positive view follows the Defence Acquisition Council (DAC) meeting held on Monday. During the winter session, the council approved defence proposals worth Rs. 79,000 crore. With this, total approvals now stand at a massive Rs. 3.3 lakh crore, which is almost double India's annual defence capital outlay of Rs. 1.8 lakh crore. This clearly shows the government's ...