Nifty Defence Index: India’s defence sector is leading the stock market’s recovery, with defence companies seeing big jumps in their share prices. Since March 4, when the market started bouncing back, the Nifty Defence Index has grown by 17%, beating other sectors like infrastructure and public sector companies.
Stocks of defence firms like Garden Reach Shipbuilders & Engineers, Zen Technologies, and JNK India have risen by 30-35% in just a few weeks. One reason for this surge is Europe’s plan to spend €800 billion ($850 billion) on strengthening its military, including possible support for Ukraine after the US paused its aid.\
DRDO Sets Up 15 Centres of Excellence to Boost Defence Innovation with Private Sector
The Indian government has also given a big push to the defence sector. On March 20, the Defence Acquisition Council cleared eight new military deals worth over ₹54,000 crore. These deals will help modernize India’s Army, Navy, and Air Force with new weapons and equipment.
Experts say defence stocks are rising because countries worldwide are spending more on military strength, and India is focusing on making its own weapons instead of buying from other nations. This “Make in India” push is attracting more investors to defence companies.
