Despite record exports, the defence sector is currently overvalued, leading to a neutral stance. Investors should remain on the sidelines and wait for a price correction before considering entry into this sector.

Sunil Subramaniam’s track record: 14 graded calls · 95% CI 12–55%

Nifty India DefenceNeutralCalled 06 Apr 2026Graded 24 Aug 2026