India’s Defense Stocks See $5 Billion Rally as Border Tensions Escalate
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Indian defense firms have added more than $5 billion in market valuation since tensions escalated between the country and neighboring Pakistan following a brutal attack on tourists in Kashmir two weeks ago.
A custom gauge of 10 Indian defense companies has gained about 5% in market value terms since the April 22 militant attack, amid expectations that these firms stand to benefit from the worsening geopolitical situation. The index includes state-run aircraft maker Hindustan Aeronautics Ltd. and missile firm Solar Industries India Ltd.