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Defence shares gain up to 5 pc

Share Source By

Dion Global

01 Feb 2019

Shares of companies related to defence sector rose up to 5 per cent Friday after an outlay of Rs 3.05 lakh crore was set aside for the sector for 2019-20.

Shares of Walchandnagar Industries jumped 4.71 per cent, Bharat Electronics gained 2.98 per cent, BEML 2.79 per cent and Bharat Dynamics 1.76 per cent on BSE.

An outlay of Rs 3.05 lakh crore was Friday set aside for the defence sector for 2019-20 which is more than Rs 20,000 crore allocated for the current fiscal.

Presenting an interim budget for 2019-20 in Lok Sabha, Finance Minister Piyush Goyal said additional funds, if necessary, would be provided to secure the country's borders and maintain defence preparedness.