Defence stocks mixed after govt proposes Rs 3 lakh crore Defence Budget

NEW DELHI: Shares of the companies that deal in the defence sector closed mixed on Friday session after the government proposed the defence outlay at Rs 3 lakh crore for FY20.

Shares of Walchandnagar Industries (up 1.15 per cent), BEL (up 0.96 per cent), Larsen & Toubro (up 0.85 per cent) and BEML (up 0.47 per cent) closed in the green, while those of Hindustan Aeronautics (down 0.19 per cent), Bharat Dynamics (down 0.10 per cent) and Reliance Naval and Engineering (down 0.08 per cent) slipped.

The government announced a defence budget of Rs 3 lakh crore for FY20. The announcement failed to boost defence-related stocks as the growth in budget allocation was less than 7.81 per cent of last year.


Meanwhile, the BSE Sensex settled 213 points, or 0.59 per cent, up at 36,469.43, while the NSE Nifty50 index closed 63 points, or 0.58 per cent, up at 10,893.65.