Defence on structural upcycle; Kotak starts coverage on HAL, Mazagon Dock
Kotak Institutional Equities said that defence companies are well-positioned to benefit from rising geopolitical tensions, accelerating modernisation programmes and an expanding export opportunity. Defence stocks: Kotak Institutional Equities has initiated coverage on India’s defence sector, saying it is on a multi-year structural upcycle. It said a sharp rise in Acceptance of Necessity (AoN) approvals,…