Bharat Dynamics Ltd (BDL) shares took a sharp hit this week, ending over 8% lower as investors continued to book profits in the broader defence sector after months of strong gains. On Friday, the stock closed at ₹1,672, down nearly 4% for the day.
Friday’s session saw BDL open at ₹1,740 and hit a high of ₹1,762.80 before slipping to an intraday low of ₹1,668. This puts the stock well off its 52-week high of ₹2,096.60, though it’s still up significantly from its 52-week low of ₹890.
The recent sell-off in defence stocks—including names like Hindustan Aeronautics and Mazagon Dock—appears to be driven by profit-taking.
Defence stocks had seen renewed interest starting in March, with momentum building further in May after India’s high-profile ‘Operation Sindoor.’ The military operation, which saw successful interception of incoming drones and missiles launched by Pakistan, spotlighted India’s growing capabilities in indigenously developed defence systems. Bharat Dynamics, a key manufacturer of missile systems, benefited from that sentiment.
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