Defence stocks witnessed a significant surge after the Defence Acquisition Council (DAC) approved capital acquisition proposals worth Rs 84,560 crore aimed at enhancing the capabilities of the Armed Forces & Indian Coast Guard. The DAC is responsible for making decisions on new policies and capital acquisitions.
At 10:21 am on February 19, Bharat Electronics stock was trading at ₹190.25, marking a rise of 1.04 percent, while Bharat Dynamics was trading at ₹1,763.25, reflecting a gain of 3.12 percent.
The Ministry of Defence stated that the approved equipment includes new generation anti-tank mines, Air Defence Tactical Control Radar, Heavy Weight Torpedoes, Medium Range Maritime Reconnaissance and Multi-Mission Maritime Aircraft, Flight Refueller Aircraft, and Software Defined Radios.
