By News18
Defence Stocks Rally: Shares of defence companies, including Paras Defence, BEML, Hindustan Aeronautics, and Bharat Electronics, surged on Friday after the government approved fresh defence equipment purchases worth Rs 1.05 lakh crore. The move boosted investor sentiment, pushing the Nifty India Defence index up by 1.4%.
Paras Defence and Space Technologies led the gains, soaring 8%, while other notable performers included Mishra Dhatu Nigam, Astra Microwave Products, BEML, Unimech Aerospace and Manufacturing, Cochin Shipyard, Bharat Dynamics, Garden Reach Shipbuilders & Engineers, Mazagon Dock Shipbuilders, and BEL — all rising between 1% and 2%.
The rally followed the Defence Acquisition Council’s (DAC) approval on Thursday of 10 capital acquisition proposals, all of which will be sourced indigenously through Indian vendors. The initiative underscores the government’s continued focus on boosting domestic defence manufacturing and self-reliance.