Key Highlights
- While Canadian Prime Minister Mark Carney has stated that his country will support Denmark's sovereignty, EU countries such as France, Germany, Italy, Poland, Spain, and the United Kingdom have also stood in support of Greenland.
- Several defence stocks, such as Solar Industries, MTAR Technologies, Bharat Dynamics (BDL), Bharat Electronics (BEL), and Hindustan Aeronautics (HAL), have jumped up to 8% this week so far in the wake of the US-Venezuela episode.
- The narrative is building up in favour of defence stocks as experts believe that India cannot ignore these geopolitical developments, given its issues with China and Pakistan and would certainly increase its budget allocation to the sector.
- Some experts believe that the US attack on Venezuela could be used as an opportunity by China to make a move on Taiwan.
- "China might use the present uncertain and chaotic situation to make Taiwan move.