State-owned defence companies saw a rise in their shares on Monday, with some surging up to 3% following the Defence Acquisition Council’s approval of capital acquisition proposals worth around Rs 52,000 crore. The Nifty India Defence index also climbed by 1.70% to 9,737.15 points, reaching an intraday high around noon.
Among the top gainers were Bharat Electronics Limited (BEL), which rose by 2.84% to Rs 429.90 on the BSE before settling at Rs 425.15, up by 1.71%. Bharat Dynamics Limited (BDL) similarly gained 3.14% to Rs 1,433.10 before trading at Rs 1,411, up by 1.56%.
Hindustan Aeronautics Limited (HAL) advanced by 1.55% to Rs 4,497 and later stood at Rs 4,472, marking a 0.99% increase. Other defence-related PSU companies also experienced higher stock trading.
Mishra Dhatu Nigam (MIDHANI) climbed by 3.32% to Rs 441.70 and was later at Rs 438.10, up by 2.48%. Mazagon Dock Shipbuilders Limited (MDL) reached an intraday high of Rs 2,582 before trading at Rs 2,569.60, up by 1.04%. Garden Reach Shipbuilders & Engineers (GRSE) rose by 1.69% to Rs 2,793.30 and later traded at Rs 2,758.50, up by 0.43%. Cochin Shipyard Limited also increased, touching an intraday high of Rs 1,542 and trading at Rs 1,530, up by 0.41%.
Investor confidence was boosted after the Defence Acquisition Council, led by Defence Minister Rajnath Singh, approved capital acquisition proposals worth approximately Rs 52,000 crore. The approvals include various defence systems and platforms for the Army, Navy, and Air Force, such as anti-drone systems, missiles, and surveillance platforms.
