Best defence stocks to buy: HAL, BEL, Azad among ICICI Securities’ top picks ahead of Q2 2026 results

ICICI Securities has recommended defence stocks like HAL, BEL, and Azad for investment ahead of Q2 2026 results. The brokerage expects private defence firms to perform better than public sector units (PSUs) due to stronger growth. However, PSU results may be mixed, with delayed Tejas Mk-1A deliveries affecting HAL and BDL facing declines.