New Delhi, Oct. 11 -- Private defence companies could outperform public sector undertakings (PSUs) in Q2 FY27, with select players expected to benefit from stronger execution, higher realisations and company-specific growth drivers. ICICI Securities remains constructive on Hindustan Aeronautics (HAL), Bharat Electronics (BEL) and Azad Engineering.

The Indian defence sector is likely to deliver mixed performance in the September quarter, with private-sector players expected to outpace their public-sector counterparts. While first-half execution has historically been weak, select private companies could report stronger-than-expected growth, partly supported by order execution spilling over from the June quarter.

According to ICICI Securit...