GRSE, BDL among 9 defence stocks up over 70% in 2 mths; time to book gains?

05-06-2025

Shares of Indian defence-related companies have witnessed a spectacular bull-run on the BSE and the NSE in the last two months, with the success of ' Operation Sindoor ' adding fire-power to already pumped-up shares in the month of May. The NSE Nifty Defence index has zoomed as much as 59 per cent from its April 7 low of 5,645 to the current 8,970 levels. In comparison, the NSE Nifty 50 index has gained 14 per cent in the same period. Among the Nifty Defence constituents - 50 per cent of the stocks i.e. 9 out of the 18 defence shares have zoomed more than 70 per cent in the last two months, shows ACE Equity data. Garden Reach Shipbuilders & Engineers (GRSE) is the top mover, the stock has soared 138 per cent. It is followed by Data Patterns (India), which has zoomed 114 per cent. Paras Defence And Space Technologies, Astra Microwave Products, Mishra Dhatu Nigam (Midhani), BEML, Bharat Dynamics (BDL), Cochin Shipyard and Solar Industries India are the other 7 stocks, up in the range of 70 - 98 per cent. Given the recent sharp rally, analysts recommend it won't be a bad idea to take home some profit off the table, but remain optimistic of the future growth prospects. Kranthi Bathini, director - equity strategy at WealthMills Securities says that defence stocks seem to be fully priced-in at current levels; hence taking some profits from the medium-to-short term seems advisable. On the downside, these stocks could correct between 15-20 per cent, the analyst said. However, the long-term outlook for defence stocks remains upbeat given India's focus on domestic manufacturing, coupled the with export market. The order book and earnings visibility looks very good for these companies, Kranthi added. That apart, post Operation Sindoor, analysts believe the Indian government may increase Budget outlay for the defence sector. Reports indicate that India's defence budget may receive an additional allocation of ₹50,000 crore under a supplementary budget. In the Union Budget presented on February 1, Finance Minister Nirmala Sitharaman had earmarked a record ₹6.81 trillion for the defence sector for FY26, an increase of 9.2 per cent when compared to the budget allotment of ₹6.22 trillion in FY25.

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Time of India

30 minutes ago

Time of India

Qualcomm Snapdragon Auto Day India: Check out the date, location, themes and why it matters for automakers

Snapdragon Auto Day India drives innovation forward as Qualcomm gears up for its inaugural automotive showcase in New Delhi. This high‑profile event, held in partnership with Amazon Web Services, spotlights Qualcomm's cutting‑edge role in shaping connected vehicles, software‑defined mobility, and advanced driver assistance systems (ADAS). Industry leaders from OEMs, Tier 1 suppliers, and the broader ecosystem will gather to explore how Snapdragon Auto platforms and Vehicle‑to‑Everything (V2X) technology are set to transform mobility in India and beyond. With a strong emphasis on AI‑powered in‑car experiences, cloud integration, and intelligent mobility, this event marks a pivotal moment in India's rise as an automotive innovation hub. Stay tuned for insights on how Qualcomm's Auto Day plans to redefine future driving experiences. When is Snapdragon Auto Day India? In collaboration with AWS (Amazon Web Services), Qualcomm announced today that the inaugural "Snapdragon Auto Day" will occur in New Delhi on July 30, 2025. Making Indian roads safer and smarter while exhibiting the technology, cross-border learning, and partnerships that will shape the next ten years of mobility is the audacious goal of this historic occasion. Aim of Snapdragon Auto Day Qualcomm today announced its first-ever 'Snapdragon Auto Day' | Credit: Qualcomm Snapdragon Auto Day aims to introduce Qualcomm's hardware and software-level smart vehicle solutions to leaders in the automotive industry, automakers, Tier 1 stakeholders, and linked ecosystem partners. Qualcomm is currently at the forefront of software-based smart mobility solutions worldwide. It provides several smart connectivity and smart-car capabilities, including Cockpit, Ride, Car-to-Cloud, and Snapdragon's Auto Connectivity. Furthermore, Indian automakers would be able to use and incorporate all of these clever Qualcomm advancements into their upcoming models. Qualcomm Car-to-Cloud, for instance, will enable OEMs to provide "seamless in-vehicle connectivity and robust cloud integration." With a contemporary 3D UI/UX design language, brands may include Snapdragon's Cockpit experience to provide AI-based context-aware automotive solutions. Additionally, Qualcomm OEM partnerships will be able to provide intelligent Advanced Driver Assistance Systems (ADAS) for intelligent road safety features thanks to Snapdragon Auto Connectivity and Snapdragon Ride. Furthermore, when paired with its Vehicle-to-Everything (V2X) technology, Indian automakers may facilitate increased situational awareness and real-time driving communication. Qualcomm wants to use smarter mobility solutions to draw attention to the need for safer roads in India with Snapdragon Auto Day.

Several High Frequency Indicators of Economy Show Muted Growth, Local Car Sales Continue to Decline

The Wire

35 minutes ago

The Wire

Several High Frequency Indicators of Economy Show Muted Growth, Local Car Sales Continue to Decline

Business While 3,20,000 cars, sedans and utility vehicles were sold in June 2025, the figure was higher in June 2024 with 3,42,000 units sold. Leading car manufacturers including Maruti Suzuki, Hyundai Motor India and Tata Motors posted double-digit decline in sales. Photo: PTI New Delhi: Several high frequency indicators of the Indian economy such as goods and services tax (GST), UPI transactions, diesel consumption and car sales are showing muted growth or a contraction from a year earlier, indicating that the economy has hit a soft patch in June. June saw GST collections expanding at the slowest in the last 50 months at 6.2%. Similarly, UPI too witnessed a decline in both transaction volume and value in June from May, reported Economic Times. 'Around 6% growth in GST collections, coupled with less than 4% growth in advance tax collection for first quarter of FY26 does indicate softening of demand and cautious outlook,' Pratik Jain, partner, Price Waterhouse & Co LLP, told the newspaper. Earlier, sales of air conditioners and refrigerators had dropped sharply in the April-June quarter in the wake of milder-than-expected summer temperatures. Meanwhile, local car sales continued to decline for the second consecutive month by around 6% in June. Leading car manufacturers including Maruti Suzuki, Hyundai Motor India and Tata Motors posted double-digit decline in sales, reported ET. While 3,20,000 cars, sedans and utility vehicles were sold in June 2025, the figure was higher in June 2024 with 3,42,000 units sold. 'The slowdown in passenger vehicle sales is largely due to a sharp decline in the smaller segment cars. Historically, passenger vehicle sales used to grow at 1.5 times the GDP growth. But now even after 6.5% GDP growth, the car market is nearly flattish. This is because the once-mass small car segment is not participating in the growth at all. This is clearly an affordability issue,' Rahul Bharti, senior executive officer, corporate affairs at Maruti Suzuki, told the newspaper. The Wire is now on WhatsApp. Follow our channel for sharp analysis and opinions on the latest developments.

Supreme Court to examine uniform pricing for Consular Passport and Visa services

First Post

37 minutes ago

First Post

Supreme Court to examine uniform pricing for Consular Passport and Visa services

The Supreme Court has agreed to hear a petition challenging the Union government's uniform pricing policy for Consular Passport and Visa (CPV) services that the petitioner says hikes fees up to 1,617% in some cases. read more The Supreme Court has agreed to hear a plea challenging the central government's uniform pricing policy for Consular Passport and Visa (CPV) services, a move that could impact millions of Indian nationals residing abroad. The petition, filed by Raghavendra Bagal, an Indian citizen living in Oman, contests the government's revised Request for Proposal (RFP) issued in February 2025, which mandates a uniform fee for CPV services regardless of whether applicants opt for additional Value Added Services (VAS). STORY CONTINUES BELOW THIS AD A bench comprising Justices KV Viswanathan and Nongmeekapam Kotiswar Singh took note of the petitioner's grievance that the uniform fee structure forces all applicants to pay for VAS even if they do not avail themselves of such services. The bench remarked, 'The grievance is that whatever service the individual avails, a uniform fee is fixed irrespective of the nature of the service.' This policy, the petitioner argues, results in an arbitrary price hike — up to 1,617 per cent in some cases — and creates cross-subsidies benefiting third-party vendors appointed to provide these services. The controversy stems from a shift in the 2025 RFP compared to the original 2014 framework. Earlier, third-party vendors charged separately for VAS, which applicants could choose at their discretion. The new policy, however, requires vendors to quote a single all-inclusive cost, effectively bundling VAS charges with basic consular services, irrespective of actual usage. The petitioner had earlier filed a Public Interest Litigation in the Delhi High Court, which dismissed his plea, citing lack of jurisdiction. The high court had pointed out that only certain RFP conditions were challenged, while other bidders had filed separate petitions on related issues. The petitioner, represented by advocate Dheeraj Malhotra, then approached the Supreme Court, arguing that the Delhi High Court erred by conflating the petitioner's case with unrelated vendor petitions and thereby wrongly denied the petitioner his right to be heard. The counsel emphasised that as an Indian passport holder residing abroad, the petitioner is directly affected by the pricing policy and thus has locus standi to challenge it. STORY CONTINUES BELOW THIS AD The Supreme Court has now issued notice to the central government, posting the matter for hearing on July 25.