{"id":153040,"date":"2026-07-15T16:06:32","date_gmt":"2026-07-15T10:36:32","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=153040"},"modified":"2026-07-15T16:06:33","modified_gmt":"2026-07-15T10:36:33","slug":"nifty-india-manufacturing-index-top-capex-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/","title":{"rendered":"Nifty India Manufacturing Index: Top Capex Stories"},"content":{"rendered":"<div class=\"meta-block\"><\/div>\n<p style=\"border-left: 4px solid #1F4E79; background: #EBF3FB; padding: 10px 16px; font-style: italic;\"><em>Reliance Industries weight 17.74%, BEL weight 3.22%, HAL weight 2.73% within the Nifty India Manufacturing Index. Budget 2026-27 capex up 9% to Rs 12.2 lakh Cr.<\/em><\/p>\n<p><a href=\"https:\/\/univest.in\/user\/stocks\/reliance\/reliance-industries-ltd-share-price-today\">Reliance Industries<\/a>, <a href=\"https:\/\/univest.in\/user\/stocks\/bel\/bharat-electronics-ltd-share-price-today\">Bharat Electronics<\/a> and <a href=\"https:\/\/univest.in\/user\/stocks\/hal\/hindustan-aeronautics-ltd-share-price-today\">HAL<\/a> are among the Nifty India Manufacturing Index top capex stories, spanning India&#8217;s broadest manufacturing benchmark that provides ~75 percent coverage of free float market cap across eligible basic industries.<\/p>\n<p>The Nifty India Manufacturing Index tracks companies across automobiles, chemicals, defence, metals and energy sectors, and Nifty India Manufacturing Index top capex stories reflect the constituents combining substantial index weight with sustained capital expenditure momentum, supported by Budget 2026-27&#8217;s capex allocation rising 9 percent to Rs 12.2 lakh crore.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&amp;utm_medium=nifty-manufacturing-index-capex\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<p>This article examines Reliance Industries, BEL and HAL as Nifty India Manufacturing Index top capex stories, covering their specific capex drivers and the risks of this broad thematic index.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#What_Defines_the_Nifty_India_Manufacturing_Index_Top_Capex_Stories\" title=\"What Defines the Nifty India Manufacturing Index Top Capex Stories\">What Defines the Nifty India Manufacturing Index Top Capex Stories<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#Why_These_Are_the_Nifty_India_Manufacturing_Index_Top_Capex_Stories\" title=\"Why These Are the Nifty India Manufacturing Index Top Capex Stories\">Why These Are the Nifty India Manufacturing Index Top Capex Stories<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#Reliance_Industries_The_Indexs_Dominant_Weight\" title=\"Reliance Industries: The Index&#8217;s Dominant Weight\">Reliance Industries: The Index&#8217;s Dominant Weight<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#BEL_Defence_Electronics_Capex_Within_a_Broader_Index\" title=\"BEL: Defence Electronics Capex Within a Broader Index\">BEL: Defence Electronics Capex Within a Broader Index<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#HAL_Aircraft_Manufacturing_Capacity_Investment\" title=\"HAL: Aircraft Manufacturing Capacity Investment\">HAL: Aircraft Manufacturing Capacity Investment<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#Factors_Affecting_the_Nifty_India_Manufacturing_Index_Top_Capex_Stories\" title=\"Factors Affecting the Nifty India Manufacturing Index Top Capex Stories\">Factors Affecting the Nifty India Manufacturing Index Top Capex Stories<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#Benefits_of_Tracking_the_Nifty_India_Manufacturing_Index_Top_Capex_Stories\" title=\"Benefits of Tracking the Nifty India Manufacturing Index Top Capex Stories\">Benefits of Tracking the Nifty India Manufacturing Index Top Capex Stories<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#Risks_of_the_Nifty_India_Manufacturing_Index_Top_Capex_Stories\" title=\"Risks of the Nifty India Manufacturing Index Top Capex Stories\">Risks of the Nifty India Manufacturing Index Top Capex Stories<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#How_to_Evaluate_the_Nifty_India_Manufacturing_Index_Top_Capex_Stories\" title=\"How to Evaluate the Nifty India Manufacturing Index Top Capex Stories\">How to Evaluate the Nifty India Manufacturing Index Top Capex Stories<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#How_to_Invest_in_the_Nifty_India_Manufacturing_Index_Top_Capex_Stories\" title=\"How to Invest in the Nifty India Manufacturing Index Top Capex Stories\">How to Invest in the Nifty India Manufacturing Index Top Capex Stories<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#FAQs\" title=\"FAQs\">FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#Which_are_the_Nifty_India_Manufacturing_Index_top_capex_stories\" title=\"Which are the Nifty India Manufacturing Index top capex stories?\">Which are the Nifty India Manufacturing Index top capex stories?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#What_is_Reliance_Industries_weight_in_the_index\" title=\"What is Reliance Industries&#8217; weight in the index?\">What is Reliance Industries&#8217; weight in the index?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#How_much_did_Budget_2026-27_raise_capex_allocation\" title=\"How much did Budget 2026-27 raise capex allocation?\">How much did Budget 2026-27 raise capex allocation?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#Why_is_BEL_included_in_this_broader_manufacturing_index\" title=\"Why is BEL included in this broader manufacturing index?\">Why is BEL included in this broader manufacturing index?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#Does_this_index_only_cover_PSU_companies\" title=\"Does this index only cover PSU companies?\">Does this index only cover PSU companies?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/nifty-india-manufacturing-index-top-capex-2026\/#What_risks_apply_to_the_Nifty_India_Manufacturing_Index_top_capex_stories\" title=\"What risks apply to the Nifty India Manufacturing Index top capex stories?\">What risks apply to the Nifty India Manufacturing Index top capex stories?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Defines_the_Nifty_India_Manufacturing_Index_Top_Capex_Stories\"><\/span><strong>What Defines the Nifty India Manufacturing Index Top Capex Stories<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nifty India Manufacturing Index top capex stories are identified by combining substantial index weight with disclosed, active capital expenditure programmes supporting continued manufacturing capacity growth across their respective sectors.<\/p>\n<p>Since the index spans a broad universe drawn from Nifty 100, Nifty Midcap 150 and Nifty Smallcap 50, it offers diversified exposure across multiple manufacturing sub-sectors rather than concentrating in any single industry.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_These_Are_the_Nifty_India_Manufacturing_Index_Top_Capex_Stories\"><\/span><strong>Why These Are the Nifty India Manufacturing Index Top Capex Stories<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Reliance Industries&#8217; dominant index weight, BEL&#8217;s defence electronics capex and HAL&#8217;s aircraft manufacturing investment together explain why these represent Nifty India Manufacturing Index top capex stories amid record Budget 2026-27 capital allocation.<\/p>\n<ul>\n<li><strong>Reliance Industries&#8217; dominant 17.74 percent weight:<\/strong> Leading the Nifty India Manufacturing Index top capex stories, Reliance Industries carries the single largest weight at 17.74 percent.<\/li>\n<li><strong>BEL&#8217;s defence electronics index presence:<\/strong> Bharat Electronics holds a 3.22 percent weight, reflecting its continued capex-backed order book execution within the broader manufacturing index.<\/li>\n<li><strong>HAL&#8217;s aircraft manufacturing weight:<\/strong> Hindustan Aeronautics holds a 2.73 percent weight, supported by its substantial capacity investment tied to the Tejas Mk1A programme.<\/li>\n<li><strong>Budget-backed capex tailwind:<\/strong> Budget 2026-27&#8217;s capital expenditure increase of 9 percent to Rs 12.2 lakh crore provides a supportive backdrop for manufacturing-linked capex across the index.<\/li>\n<\/ul>\n<table border=\"1\" cellspacing=\"0\" cellpadding=\"6\">\n<tbody>\n<tr>\n<th>Company<\/th>\n<th>Index Weight<\/th>\n<th>Sector<\/th>\n<th>Capex Driver<\/th>\n<\/tr>\n<tr>\n<td>Reliance Industries Ltd<\/td>\n<td>17.74%<\/td>\n<td>Refining, petrochemicals, new energy<\/td>\n<td>Diversified manufacturing capex programme<\/td>\n<\/tr>\n<tr>\n<td>Bharat Electronics Ltd<\/td>\n<td>3.22%<\/td>\n<td>Defence electronics<\/td>\n<td>Rs 74,000 Cr order book execution<\/td>\n<\/tr>\n<tr>\n<td>Hindustan Aeronautics Ltd<\/td>\n<td>2.73%<\/td>\n<td>Aircraft manufacturing<\/td>\n<td>Rs 62,400 Cr Tejas Mk1A capacity investment<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span class=\"ez-toc-section\" id=\"Reliance_Industries_The_Indexs_Dominant_Weight\"><\/span><strong>Reliance Industries: The Index&#8217;s Dominant Weight<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Reliance Industries leads the Nifty India Manufacturing Index top capex stories, carrying the single largest index weight at 17.74 percent, reflecting its diversified manufacturing capex programme spanning refining, petrochemicals and new energy manufacturing.<\/p>\n<p>The company&#8217;s scale across multiple manufacturing verticals gives it outsized influence on overall index performance, making its capex execution a key driver of the broader manufacturing theme.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"BEL_Defence_Electronics_Capex_Within_a_Broader_Index\"><\/span><strong>BEL: Defence Electronics Capex Within a Broader Index<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Bharat Electronics is among the Nifty India Manufacturing Index top capex stories, holding a 3.22 percent weight backed by continued capex-linked order book execution toward its Rs 74,000 crore order book.<\/p>\n<p>BEL&#8217;s presence in this broader manufacturing index, alongside its stronger weight in the dedicated defence index, reflects its dual relevance as both a defence specialist and a significant manufacturing capex story.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/sebi-registered-investment-advisor-india\"><strong>Get SEBI-Registered Research on Nifty India Manufacturing Index Stocks<\/strong><\/a><\/p>\n<h3><span class=\"ez-toc-section\" id=\"HAL_Aircraft_Manufacturing_Capacity_Investment\"><\/span><strong>HAL: Aircraft Manufacturing Capacity Investment<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Hindustan Aeronautics rounds out the Nifty India Manufacturing Index top capex stories at 2.73 percent weight, driven by substantial capacity investment tied to its Rs 62,400 crore Tejas Mk1A follow-on order.<\/p>\n<p>HAL&#8217;s continued capacity scaling to meet its expanding order backlog represents one of the more capital-intensive manufacturing capex stories within the broader index composition.<\/p>\n<p style=\"margin-top: 24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Reliance Industries, BEL and HAL live prices.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Factors_Affecting_the_Nifty_India_Manufacturing_Index_Top_Capex_Stories\"><\/span><strong>Factors Affecting the Nifty India Manufacturing Index Top Capex Stories<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Budget capex allocation continuity:<\/strong> Sustained government capex allocation, up 9 percent to Rs 12.2 lakh crore in Budget 2026-27, supports the broader manufacturing capex theme.<\/li>\n<li><strong>Sector-specific capex execution:<\/strong> Individual constituent capex execution varies by sector, from refining expansion to defence manufacturing capacity.<\/li>\n<li><strong>Semi-annual index rebalancing:<\/strong> The index rebalances in March and September, meaning constituent weights can shift as capex programmes and valuations evolve.<\/li>\n<li><strong>Manufacturing PMI trends:<\/strong> India&#8217;s manufacturing PMI, at 55.4 in January 2026, remaining above its long-run average supports continued sector-wide capex confidence.<\/li>\n<li><strong>Policy support continuity:<\/strong> Continued PLI scheme and semiconductor mission support affects capex momentum across index constituents.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Benefits_of_Tracking_the_Nifty_India_Manufacturing_Index_Top_Capex_Stories\"><\/span><strong>Benefits of Tracking the Nifty India Manufacturing Index Top Capex Stories<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Broad manufacturing sector exposure:<\/strong> The Nifty India Manufacturing Index top capex stories provide diversified exposure across India&#8217;s manufacturing economy.<\/li>\n<li><strong>Budget-linked tailwind participation:<\/strong> These stocks benefit from Budget 2026-27&#8217;s sustained capex allocation increase across infrastructure and manufacturing.<\/li>\n<li><strong>Diversified sector representation:<\/strong> Refining, defence electronics and aircraft manufacturing together offer sector diversification within the capex theme.<\/li>\n<li><strong>Index-linked investment relevance:<\/strong> Understanding these top constituents helps investors evaluate manufacturing-focused index funds more effectively.<\/li>\n<li><strong>Structural growth theme participation:<\/strong> These names tie into India&#8217;s broader manufacturing GDP share expansion ambitions through 2035.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Risks_of_the_Nifty_India_Manufacturing_Index_Top_Capex_Stories\"><\/span><strong>Risks of the Nifty India Manufacturing Index Top Capex Stories<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Single-stock concentration risk:<\/strong> Reliance Industries&#8217; 17.74 percent weight means index performance is meaningfully influenced by this single constituent.<\/li>\n<li><strong>Capex execution risk:<\/strong> Disclosed capex programmes still require successful execution, which can face delays or cost overruns.<\/li>\n<li><strong>Manufacturing capex peak signals:<\/strong> Some data suggests manufacturing capex share of total corporate capex is moderating in 2026-27 after peaking in prior years.<\/li>\n<li><strong>Sector-specific risks vary:<\/strong> Each constituent carries distinct sector-specific risks, from refining margins to defence procurement timing.<\/li>\n<li><strong>Rebalancing-driven volatility:<\/strong> Semi-annual index rebalancing can create short-term volatility independent of underlying fundamental changes.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Evaluate_the_Nifty_India_Manufacturing_Index_Top_Capex_Stories\"><\/span><strong>How to Evaluate the Nifty India Manufacturing Index Top Capex Stories<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>Consider both index weight and individual sector-specific capex execution when evaluating these constituents.<\/li>\n<li>Assess diversification benefits from holding names across refining, defence electronics and aircraft manufacturing.<\/li>\n<li>Track Budget capex allocation continuity as a key macro driver for the broader manufacturing theme.<\/li>\n<li>Monitor manufacturing PMI trends for insight into sector-wide capex confidence.<\/li>\n<li>Combine index-level analysis with company-specific fundamental research for complete investment decisions.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Invest_in_the_Nifty_India_Manufacturing_Index_Top_Capex_Stories\"><\/span><strong>How to Invest in the Nifty India Manufacturing Index Top Capex Stories<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>Use the Univest platform to track index composition and quarterly results for these manufacturing stocks.<\/li>\n<li>Open a demat and trading account with Univest for zero-brokerage execution.<\/li>\n<li>Track quarterly results for Reliance Industries, BEL and HAL through the Univest app.<\/li>\n<li>Consult a SEBI-registered advisor before allocating capital based on index weight considerations alone.<\/li>\n<li>Review positions periodically as index composition and Budget-linked capex trends continue to evolve.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Reliance Industries, Bharat Electronics and HAL remain the clearest Nifty India Manufacturing Index top capex stories, spanning refining, defence electronics and aircraft manufacturing within India&#8217;s broadest manufacturing benchmark. Historically, sustained Budget capex allocation has supported this broader theme, though single-stock concentration and sector-specific execution risks remain important considerations. Consult a SEBI-registered advisor before making investment decisions.<\/p>\n<div style=\"background: #CC0000; border-radius: 8px; padding: 16px 20px; margin: 24px 0;\">\n<p style=\"color: #ffffff; font-size: 13px; line-height: 1.7; margin: 0;\"><strong style=\"color: #ffffff;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_Nifty_India_Manufacturing_Index_top_capex_stories\"><\/span><strong>Which are the Nifty India Manufacturing Index top capex stories?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Reliance Industries, BEL and HAL are among the Nifty India Manufacturing Index top capex stories, spanning refining, defence electronics and aircraft manufacturing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Reliance_Industries_weight_in_the_index\"><\/span><strong>What is Reliance Industries&#8217; weight in the index?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Reliance Industries, leading the Nifty India Manufacturing Index top capex stories, carries the largest index weight at 17.74 percent.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_did_Budget_2026-27_raise_capex_allocation\"><\/span><strong>How much did Budget 2026-27 raise capex allocation?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Budget 2026-27, supporting the Nifty India Manufacturing Index top capex stories, raised capital expenditure by 9 percent to Rs 12.2 lakh crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_is_BEL_included_in_this_broader_manufacturing_index\"><\/span><strong>Why is BEL included in this broader manufacturing index?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> BEL, among the Nifty India Manufacturing Index top capex stories, holds a 3.22 percent weight reflecting its capex-linked order book execution.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Does_this_index_only_cover_PSU_companies\"><\/span><strong>Does this index only cover PSU companies?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No, the Nifty India Manufacturing Index top capex stories include private companies like Reliance Industries alongside PSUs like BEL and HAL.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_risks_apply_to_the_Nifty_India_Manufacturing_Index_top_capex_stories\"><\/span><strong>What risks apply to the Nifty India Manufacturing Index top capex stories?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Key risks include single-stock concentration around Reliance Industries, capex execution risk, and signs of manufacturing capex share moderating in 2026-27.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the Nifty India 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