Defence exports surge post-Operation Sindoor; Jefferies picks Solar, Astra, HAL, BEL

Jefferies has initiated Buy ratings on Solar Industries and Astra Microwave, citing strong defence sector growth and expanding order books. The brokerage maintained Buy ratings on HAL and Bharat Electronics, while assigning a Hold to Bharat Dynamics.

The analyst expects robust earnings growth across these defence companies, supported by increased defence spending, indigenisation initiatives, and growing export opportunities. The positive outlook follows a rise in defence exports after Operation Sindoor.