Shares of 5 defence equipment makers fell by 0.01% to 2.88% at 11:34 IST on BSE after Finance Minister Arun Jaitley in the Union Budget 2014-15 raised foreign direct investment in the defence sector to 49% from 26%.
Bharat Electronics (down 2.88%), Dynamatic Technologies (down 1.92%), Astra Microwave Products (down 1.47%), Walchandnagar Industries (down 1.35%) and BEML (down 0.01%), edged lower.
However, Pipavav Defence and Offshore Engineering Company was up 4.18%.
The S&P BSE Sensex was up 54.50 points, or 0.21% at 25,499.31.
As per the current foreign direct investment (FDI) policy, up to 26% FDI is permissible in the defence sector subject to licensing through government route.
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