Nirmal Bang: Defense Sector Soars, Cement Margins Squeezed by Fuel Costs

• Nirmal Bang's Jyoti Gupta is positive on the defense sector, citing strong order books and execution visibility, despite high valuations.
• Top defense picks include HAL and BEL, indicating confidence in their performance.
• In the cement sector, Gupta notes limited impact from gas prices but warns of rising pet coke and coal costs pressuring margins.
• Demand for cement may moderate, leading to a preference for large-cap players like Ambuja and UltraTech.
• Nirmal Bang advises caution on weaker regional cement players due to potential margin pressures and moderating demand.