HAL offers the best risk-reward among defence stocks despite expensive valuations, says Equirus
India’s defence stocks have rallied sharply over the past few years, pushing sector valuations well above historical averages. But Harshit Patel, Director at Equirus Securities, believes Hindustan Aeronautics Limited (HAL) still stands out as the best investment opportunity, backed by a strong earnings outlook over the next few years. Patel said that while defence valuations…
