Zen Tech, HAL & other defence stocks rally up to 6% on DAC's Rs 52,000-crore approval. Motilal picks 3 shares to buy

Defence stocks rallied up to 6 percent after the Defence Acquisition Council (DAC) cleared about Rs 52,000 crore worth of acquisitions spanning air defence, anti-drone systems, surveillance and unmanned warfare for the Army, Navy and Air Force. Motilal Oswal retained Buy ratings on HAL (target Rs 5,500, implying 24 percent upside), Bharat Electronics (target Rs 510, implying 23 percent upside) and Astra Microwave, noting that the approvals should accelerate order inflows and execution.