Defence Equipment Makers Rally on Reports of Likely FDI Hike
Shares in defence equipment manufacturers rallied on media reports of a potential increase in foreign direct investment (FDI) limit in the sector from current 26 per cent, multiple dealers said.
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(Read: 'Government Initiates Exercise to Raise FDI in Defence')
Bharat Electronics gained 2.2 per cent, BEML surged 7.4 per cent and Pipavav Defence & Offshore Engineering Co rose 5 per cent.
A government spokesman did not respond to Reuters email and calls.
Copyright @ Thomson Reuters 2014
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