After BJP's state election victory, railway and defence stocks, including Hindustan Aeronautics Ltd and Ircon International Ltd, hit 52-week highs.
The market reflects confidence in these sectors due to historical BJP priorities. Analysts anticipate increased budget allocations if BJP wins in 2024.
The Nifty 50 and Sensex also reached record highs, showcasing post-election optimism. Despite high valuations, experts predict a sustained rally, aligning with government focus on growth in railways, defence, and capital goods.