Indian defense stocks continued their upward trend for the fifth consecutive session on Thursday, emerging as the top-performing sector this month. This surge is driven by expectations of increased military spending in the Eurozone, despite reports suggesting preference for European and allied arms manufacturers. The sector received an additional boost from the Indian government’s approval of defense plans worth 540 billion rupees ($6.3 billion). However, some analysts caution that high retail ownership and steep valuations may limit further short-term gains
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