Defence stocks were in focus today as shares across the sector saw strong gains after reports emerged that India is looking to finalise a contract for 114 Rafale fighter jets with France as early as next year. According to ThePrint, at least 18 jets are expected to be delivered off-the-shelf in a shorter timeline, while Dassault Aviation will set up a final assembly line in India with a target of 60% indigenisation. The news has boosted sentiment across defence counters.
Stock performance today
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Apollo Micro Systems: ₹336.15, down 2.00%
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Astra Micro: ₹1,106.95, up 0.24%
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Avantel: ₹177.00, up 0.06%
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Bharat Dynamics: ₹1,620.90, up 1.02%
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Bharat Electronics: ₹412.35, up 2.37%
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Bharat Forge: ₹1,265.70, up 0.25%
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CFF Fluid Control: ₹650.50, up 0.88%
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Cochin Shipyard: ₹1,858.40, up 2.02%
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Data Patterns: ₹2,782.35, up 0.67%
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DCX Systems: ₹278.95, up 1.34%
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Garden Reach Shipbuilders & Engineers: ₹2,544.00, up 4.31%
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High Energy: ₹611.90, up 0.58%
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Hindustan Aeronautics: ₹4,895.00, up 1.15%
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IdeaForge Technology: ₹532.35, up 4.08%
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Kaynes Technology: ₹7,168.05, down 0.24%
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Mazagon Dock Shipbuilders: ₹2,976.60, up 1.03%
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MTAR Technologies: ₹1,757.85, up 1.76%
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Nibe Limited: ₹1,264.50, up 2.24%
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Paras Defence & Space Tech: ₹746.30, up 1.06%
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Premier Explosives: ₹574.70, up 5.15%
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Solar Industries: ₹14,841.00, up 1.64%
The broader markets also ended higher with the Nifty 50 at 25,308.60 (up 0.28%) and the Sensex at 82,586.11 (up 0.25%).
Outlook
The Rafale report has been seen as a key driver of today’s rally in defence stocks. Analysts note that the government-to-government deal with France, coupled with the emphasis on indigenisation, is fuelling investor optimism in defence manufacturing companies.
