Defence stocks jump: Paras Defence up 6%, Apollo Micro up 2.4%, HAL up 0.6%, GRSE up 1.7% as DAC clears Rs 1.05 lakh crore proposals
Defence stocks were in focus on Friday after the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, approved proposals worth ₹1.05 lakh crore to bolster India's tri-services capabilities through indigenous procurement.
At the time of reporting: Paras Defence and Space Technologies surged nearly 6% , buoyed by its stock split and the sectoral sentiment.
Apollo Micro Systems gained over 2.4% on the BSE.
Hindustan Aeronautics Limited (HAL) advanced about 0.6% , reflecting optimism on higher defence orders.
Garden Reach Shipbuilders & Engineers (GRSE) rose about 1.7%, benefiting from revived Navy projects. Stock Price (BSE) Change (%) Paras Defence and Space Tech ₹899.50 +5.97% Apollo Micro Systems ₹192.35 +2.45% Hindustan Aeronautics (HAL) ₹4,960.00 +0.60% Garden Reach Shipbuilders (GRSE) ₹2,991.30 +1.68% Bharat Electronics (BEL) ₹431.50 +1.26% Bharat Dynamics (BDL) ₹1,987.70 +1.16% Cochin Shipyard ₹2,046.55 +1.55% Mazagon Dock Shipbuilders ₹3,320.00 +0.99% Data Patterns ₹2,981.50 +0.50% IdeaForge Technology ₹580.85 +1.72%
On Thursday, the DAC accorded 'Acceptance of Necessity' for ten proposals, which include the revival of the ₹44,000 crore Mine Counter Measure Vessel (MCMV) project for the Navy, procurement of Quick Reaction Surface-to-Air Missiles (QRSAMs) for the Army at an estimated ₹30,000 crore, and acquisition of I-STAR aircraft for the Air Force.
These initiatives are expected to enhance mobility, air defence, surveillance and supply chain resilience for the Armed Forces, while also strengthening the government's 'Make in India' agenda through partnerships with players such as BEL, BDL, L&T, and others.
The sentiment was also supported by improving order visibility for the domestic defence sector amid the Ministry of Defence's continued emphasis on indigenous manufacturing.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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