Paras Defence, BEL, GRSE tumble up to 8% as profit booking drags defence stocks

Indian defence stocks experienced a decline on Monday due to profit booking and broader market weakness, interrupting a period of strong performance. While some stocks like DCX Systems and HAL saw gains, major players such as Paras Defence and Bharat Electronics faced losses. Analysts suggest valuations may be stretched, indicating a potential consolidation phase despite strong fundamentals and export opportunities.