Can Rs 79,000-crore DAC boost help HAL, BEL, other defence stocks deliver in 2026?

India’s Rs 79,000 crore defence procurement clearance strengthens the capital expenditure upcycle and boosts long-term order visibility for defence PSUs and private players. Analysts highlight missiles, electronics, drones and shipbuilding as key beneficiaries, with policy reforms further supporting MSMEs and defence start-ups.