Defence Stocks Rally: Ambareesh Baliga Sees Upside In Shipbuilding Stocks

Defence stocks are buzzing after the Defence Acquisition Council approved acquisitions worth over ₹1 lakh crore, lifting the defence index by around 2.5%. But with several stocks already trading at elevated valuations, is there still room for upside? Market Analyst Ambareesh Baliga shares his view on the defence sector, government support and the stocks that could still have value. He highlights the shipbuilding space, including Cochin Shipyard, Mazagon Dock and Garden Reach Shipbuilders, as areas where valuations remain relatively reasonable and upside could be possible.