Defence stocks fly high on strong order books, export potential

Swelling order books from the ministry of defence have caused defence stocks to surge. With comfortable valuations, better outlook on profitability led by a higher indigenization theme, and better operating leverage, analysts are bullish on stocks such as HAL, BEL, Bharat Dynamics, and Garden Reach, among others.

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EM local bonds gain favour as dollar debt lags

Current trends indicate that investors are leaning towards local emerging market debt rather than dollar-denominated bonds. The allure of attractive valuations combined with ongoing carry