In the last week of FY23, the Ministry of Defence (MoD) has approved a number of orders, benefitting PSUs such as BEL, BDL, GRSE, Cochin Shipyard and Goa Shipyard. Most of these orders are under the Indian-IDMM category, in line with the government’s focus on indigenisation, hence, we expect consequential benefits for downstream companies in radars, instrumentation and surveillance systems such as BEL and Data Patterns. The orders comprise the much-awaited backlog for BDL, BEL and Shipy...
Defence Sector Update - Orders galore By ICICI Securities
