Desk,31-Jan; In joint budget session ahead of budget 2022 date, President Ram Nath Kovind announced to discontinue import of 209 defence items. The President of India said that such defence items will be now manufactured in India, triggering attention of the stock market analysts. According to stock market experts, this announcement by Ram Nath Kovind signals agenda of the Government of India (GoI) in regard to defence manufacturing. They said that president speaking in joint budget session should be taken as a cue on upcoming budget 2022 as Finance Minister Nirmala Sitharaman may make some announcement in this regard while presenting her fourth union budget in the parliament.On defence stocks to buy today, stock market experts suggested 5 day trading stocks to buy today. Those 5 shares are Bharat Electronics, Bharat Dynamics, Hindustan Aeronautics Ltd (HAL), Bharat Forge and Larsen & Toubro.Decoding what president’s announcement in joint budget session means for an investor; Anuj Gupta, Vice President at IIFL Securities said, “In joint budget session today, President of India has said that 209 defence items won’t be imported and it will be manufactured in India. This simply indicates that Government of India (GoI) is giving priority to defence procurement in Make In India and we can expect some announcement from Finance Minister Nirmala Sitharaman in this regard on 1st February.”Anuj Gupta of IIFL Securities went on to add that positional investors can invest in defence companies like Bharat Electronics, Bharat Dynamics and Hindustan Aeronautics Ltd or HAL as these defense shares have strong order book and their Q3 results have also been quite strong.On day trading stocks to buy in defence sector; Saurabh Jain, Vice President — Research at SMC Global Securities said, “Presidential address in joint budget session has to be seen as Narendra Modi government’s agenda in regard to defence sector. Since, GoI is highly ambitious about its Make In India programme, this announcement made by the Indian president to stop import of 209 defence items may lift business volume of some defense companies like Bharat Electronics, Bharat Dynamics, HAL, Bharat Forge and Larsen & Toubro.””Bharat Dynamics shares have remained in green zone despite negative sentiments in the market and hence I would recommend positional investors to give priority to this stock as net buyers have remained higher in the stock despite heavy selloff at key benchmark indices. Such stocks usually give sharp upside movement after trend reversal
