BEL, HAL, and BHEL shares tumble up to 7% as defence Budget falls short of expectation

Shares of Bharat Electronics, Hindustan Aeronautics, and BHEL fell up to 7% following the Union Budget FY26's disappointing defense allocation of Rs 4.92 lakh crore. Market expectations for a higher increase were unmet, dampening sentiment in the defense sector. Other defense stocks, including Paras Defense and MTAR Technologies, also saw significant losses due to conservative spending plans.