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What the Israel-Hamas war portends for India's defence sector
Mint Mumbai
|October 12, 2023
The conflict between Israel and Hamas has wreaked havoc on human life and ignited geopolitical worries. Against this backdrop, investors' attention is on shares of defence companies. In the US markets, shares of defence companies such as Northrop Grumman Corporation and Lockheed Martin Corporation have soared this week.
What are the implications for the Indian defence sector? Analysts from Nuvama Research believe the escalation of this war may create opportunities for players such as Bharat Forge, Larsen & Toubro, Tata Advanced Systems and Adani Group in the near-to-medium term as Israel is likely to reach out to its allies (India, US, etc) to ensure ample stockpiles for the war. Nuvama's analysts note that the private sector's share in defence exports stands tall at 60-70%. In FY23, India's total defence exports stood at ₹15,920 crore, up by 24% versus the previous year.
Dit verhaal komt uit de October 12, 2023-editie van Mint Mumbai.
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