Shares of defence sector companies surged ahead of Budget Day, with strong buying interest across key stocks. Paras Defence, BEML, and Zen Technologies were among the top gainers, reflecting optimism in the sector as investors anticipate increased defence allocations and policy support in the upcoming Union Budget 2024-25.
Top performing defence stocks (as of 10:26 AM)
- Paras Defence (NSE: PARAS) surged 5.21% to ₹1,117.10, gaining ₹55.30.
- BEML (NSE: BEML) rose 4.93% to ₹3,715.00, adding ₹174.40.
- Zen Technologies (NSE: ZENTEC) gained 4.67% to ₹1,763.95, up ₹78.75.
- Bharat Dynamics Ltd (NSE: BDL) advanced 4.08% to ₹1,319.00, rising ₹51.65.
- Bharat Electronics Ltd (NSE: BEL) climbed 3.89% to ₹289.60, increasing ₹10.85.
- Hindustan Aeronautics Ltd (NSE: HAL) was up 3.75% at ₹3,921.00, adding ₹141.85.
- Garden Reach Shipbuilders & Engineers (NSE: GRSE) gained 3.37% to ₹1,571.10, up ₹51.25.
- Mazagon Dock Shipbuilders Ltd (NSE: MAZDOCK) traded 3.35% higher at ₹2,429.45, up ₹78.75.
Other notable gainers
- Apollo Microsystems (NSE: APOLLO) rose 2.59% to ₹133.97, gaining ₹3.38.
- Data Patterns (NSE: DATAPATTNS) advanced 2.13% to ₹2,175.00, up ₹45.40.
- Astra Microwave (NSE: ASTRAMICRO) edged 1.48% higher to ₹723.00, adding ₹10.55.
- Avantel (NSE: AVANTEL) gained 1.22% to ₹133.91, up ₹1.61.
- Solar Industries (NSE: SOLARINDS) rose 1.27% to ₹10,192.00, gaining ₹128.30.
Sector outlook ahead of Budget 2024
Investors are bullish on defence stocks ahead of the Budget, anticipating a higher defence allocation, policy reforms, and incentives for domestic defence manufacturers under the ‘Atmanirbhar Bharat’ initiative. With India’s increasing focus on self-reliance in defence manufacturing, rising order books, and strong government push for indigenisation, the sector is expected to remain in focus.
Disclaimer
The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
