Defence stocks set for mixed Q4; Nuvama bets on BEL, Solar Industries, and a smallcap pick

Listed defence sector companies are expected to deliver a mixed set of numbers in Q4FY26, despite robust order visibility and sustained inflows and a healthy pipeline where backlogs are no longer a constraint, Nuvama Institutional Equities said in a note.The brokerage firm has picked Bharat Electronics Limited (BEL), Data Patterns (India) and Solar Industries India as its top bets. The pace of new large-ticket orders is likely to slow, with growth increasingly anchored in repeat and replenishmen...