GRSE, BEL, other Indian defence shares rally up to 17% as Trump criticises European allies; Here’s why

Defence shares rallied sharply on Wednesday, with the Nifty India Defence index rising nearly 7 percent intraday, snapping a two-day decline amid apparent cracks between US-Europe ties. Market participants tracked developments in the United States and Europe amid rising unease among NATO allies over the ongoing war in Iran. France and Italy have expressed reservations over certain US-Israeli military actions, even as US President Donald Trump criticised European NATO allies for what he described as inadequate support during the month-long conflict involving Iran, underscoring emerging divisions within the alliance. Earlier this month, Trump termed longstanding NATO allies as “cowards” over…