Defence stocks fall up to 11% in early trade session amid tight election race

Most of these defence stocks have given multibagger returns to their investors in the last one year.

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"If the current government retains majority, as exit polls suggest, it adds wings to the strong sector outlook," said in a report, adding that power and defence linked capex have the highest visibility.

Commenting on outlook in 3.0, Atul Parakh, CEO of Bigul, said that in the renewed mandate for Modi 3.0, expectations for mid-caps and small-caps hinge on key sectors poised for government focus viz. infrastructure, defence, railways, and . These sectors will throw up potential opportunities for midcap and small-cap companies.

Today, also fell sharply by up to 10% in intraday trade on the BSE, following early trends which showed the BJP-led NDA coalition having an upper edge in the race to majority mark. However, these early numbers were not in line with exit polls, causing investor concerns.

Defense stocks have been delivering consistently under the Modi government, reaching greater highs on the back of the government's push towards the ‘Make In India’ scheme which promotes manufacturing in India under the Atmanirbhar Bharat theme.

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