The Street has discounted the defence manufacturing stocks too much into the future. Even the earning visibility has been discounted. It is a fast-moving train; it does not make sense to get onto that train at this point. There are many choices when it comes to rural play – two-wheelers, fertilisers, pesticides, and M&M, says Dipan Mehta The Street has discounted the defence manufacturing stocks too much into the future. Even the earning visibility has been discounted. It is a fast-moving train; it does not make sense to get onto that train at this point. There are many choices when it comes to rural play – two-wheelers, fertilisers, pesticides, and M&M, says Dipan Mehta Economic Times