ICICI Securities points to an improving defence procurement order cycle and lists HAL and Solar Industries among its top stock picks. The brokerage cites data from India’s Defence Acquisition Council (DAC), saying approvals reached an all-time high of Rs 52,000 crore in FY26. Based on that trend, it expects order awards to gain momentum in FY27 and FY28. ICICI Securities’ outlook is focused on defence segments it expects to see increased activity, including aerospace and related platforms, missiles, electronic warfare, and drone defence and offence capabilities. The article frames the recommendation as tied to the anticipated pace of order awarding rather than on company-specific contract details. Alongside HAL, Solar Industries is mentioned as another leading bet in the brokerage’s list, though the sources provided do not include the full set of recommendations or specific order volumes for each company.
ICICI Securities highlights HAL and Solar Industries as defence order cycle picks up
ICICI Securities points to an improving defence procurement order cycle and lists HAL and Solar Industries among its top stock picks. The brokerage cites data from India’s Defence Acquisition Council...
- ICICI Securities expects defence order awards to pick up in FY27 and FY28.
- The brokerage cites Defence Acquisition Council (DAC) approvals of Rs 52,000 crore as an all-time high in FY26.
- HAL is listed among ICICI Securities’ top defence stock bets.
- Solar Industries is also listed among the brokerage’s top bets.
- ICICI Securities expects momentum particularly in aerospace, missiles, electronic warfare, and drone defence/offence.
Given that DAC approvals of Rs 52,000 crore, were at an all-time high in FY26, the brokerage expects the order awarding momentum to pick up in FY27/28, especially in aerospace, missiles, electronic warfare and drone defence-offence side.
5 hours agoGiven that DAC approvals of Rs 52,000 crore, were at an all-time high in FY26, the brokerage expects the order awarding momentum to pick up in FY27/28, especially in aerospace, missiles, electronic...
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