Defence Stocks trending: Stocks of Indian defence companies were active today after the Defence Acquisition Council (DAC), which is led by Defence Minister Rajnath Singh, gave a green signal to many new military projects. These include the purchase of long-endurance drones, new mountain radars, and modern missile systems. The government has decided to spend around ₹67,000 crore for these projects. The aim is to make India’s defence forces stronger and better prepared for future challenges.
The Indian Navy is getting some important upgrades. DAC has cleared plans to buy compact autonomous surface crafts and to add more BrahMos fire control systems and launchers. According to India TV, the Navy will also improve its BARAK-1 point defence missile system. These additions will help the Navy deal with threats more quickly and powerfully. The Indian Air Force too will see upgrades, including new mountain radars which are very useful in rough terrains.
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It will also upgrade its current Spyder and Saksham weapon systems. The Indian Army hasn’t been left out either. It will soon get new driver night-sights based on thermal imagers for its BMP infantry combat vehicles.
Stock Market Sees Mixed Reaction
The news had a strong impact on defence stocks, with some moving up while others saw a small dip. Bharat Electronics Limited (BEL), which is a Navratna PSU under the Ministry of Defence, stayed in the green. The stock opened at ₹392.05 on the BSE, higher than its last close of ₹386.50. During the day, it went up to ₹393.45 and dropped to ₹387.05 at the lowest. At the end of the session, BEL’s stock closed at ₹389.60.
On the other hand, BEML had a more flat start. It opened at ₹3,995.35, almost the same as its previous close of ₹3,995.30. The stock climbed up during the day to ₹4,023.20 but also went down to ₹3,925.05. It finally ended the session at ₹3,947.25, which is a fall of 1.20%
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HAL, which makes aircraft and other defence products, opened the day in green too. It started at ₹4,610.05 and touched ₹4,619.90 at the highest point. But then it dropped during the day and hit a low of ₹4,508.85. It finally closed the day at ₹4,538.75.
Bharat Dynamics also started the session well at ₹1,605.05, higher than the previous close of ₹1,586.30. But during the day, the stock fell to ₹1,557.90 even though it also reached a high of ₹1,618. By the end of the day, it had gone down slightly and closed at ₹1,577.40, showing a dip of 0.56%
