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Mint
a day ago
- Business
- Mint
From GRSE, BDL to BEL— defence stocks shine in H1CY25; what lies ahead? What to buy from the sector? Experts weigh in
Most Indian defence stocks, including Garden Reach Shipbuilders & Engineers (GRSE), Bharat Dynamics (BDL), Mazagon Dock, Bharat Electronics (BEL), Cochin Shipyard and Hindustan Aeronautics (HAL) ended the first half of the calendar year 2025 (H1CY25) with strong gains. The Indian defence sector witnessed strong traction in the first half of the year, as the India-Pakistan conflict brought the country's defence capabilities into global focus, boosting prospects for increased demand in the sector. Shares of Sika Interplant Systems surged 172 per cent in H1CY25, while those of GRSE, Solar Industries, BDL, Apollo Micro Systems and Paras Defence surged 59-86 per cent during the period. A few players from the sector, however, bucked the trend. Shares of Dynamatic Technologies, Zen Technologies and DCX Systems fell 15-21 per cent. Performance of defence stocks in H1CY25. Strong order flow, anticipation of durability of demand amid changing geopolitical scenario and global focus on Indian defence equipment due to their performance and effectiveness are the key factors that shot up defence stocks this year. Navjeet Sobti, Senior Executive Director at Almondz Global Securities, pointed out the robust orderbook of India defence companies, with HAL ( ₹ 1.89 lakh crore), BEL ( ₹ 72,000 crore), Mazagon Dock ( ₹ 32,000 crore), BDL ( ₹ 22,700 crore) and BEML ( ₹ 14,600 crore) among the key players. The defence sector's medium to long-term outlook remains strong amid the prospects of increased demand. There are also expectations that the government may increase the defence budget next year, in light of recent aggression from neighbouring countries such as Pakistan, China, and Bangladesh. Nandish Shah, AVP– PCG Research & Advisory, (Fundamental) Wealth Management, Motilal Oswal Financial Services, expects defence sector orders to remain strong in the coming quarters. Shah pointed out that in the FY26 Budget, defence was allocated ₹ 6.81crore, a 9.5 per cent increase over FY25. Government capex in March and April 2025 showed strong spending on defence, contributing significantly to the highest-ever monthly capital expenditure. After Operation Sindoor, Shah expects the finalisation of emergency procurement pipelines for the defence sector and contracts for large projects in the near term. Shah further underscored that defence companies are eyeing bigger opportunities from exports of larger platforms such as the Akash missile, MRSAM (medium-range surface-to-air missile), and defence control systems, where domestic companies have already established their product quality in the domestic markets. Prashanth Tapse, a senior VP of research at Mehta Equities, too, believes that investor sentiment towards the sector is expected to remain structurally positive in H2CY25. "While short-term valuations may appear stretched in pockets, long-term visibility in revenues and margins for key players justifies a buy-on-dips strategy for patient investors," said Tapse. Ajit Mishra, SVP of research at Religare Broking, pointed out that the recent surge has also introduced valuation risks, and near-term volatility is likely. Mishra says investors must be selective, focusing on companies with strong order books, healthy financials, and proven execution capabilities. "While the rally reflects short-term momentum, the long-term story remains intact, especially as India strengthens its defence posture in an increasingly uncertain regional environment," said Mishra. Shah of Motilal Oswal Financial Services is positive on BEL and HAL. Tapse also chose HAL and BEL as his preferred picks in the sector for an investment horizon of two to three years. He suggests HAL because of reasonable valuations, given its EPS growth potential and expected catalyst, high export orders book, and possible Nifty inclusion in the coming few months. For BEL, Tapse said it is a key player in electronic warfare, radars, command control systems and high-order inflows in the coming months are expected. Sobti of Almondz Global Securities also suggests BEL and HAL for the long term. "BEL, a Navratna DPSU, has a strong orderbook of ₹ 72,000 crore as on FY25, which provides medium to long-term revenue visibility, with management guidance for 15 per cent revenue growth in FY26," Sobti underscored. "HAL boasts a strong order book of ₹ 1.8 lakh crore as of March 31, 2025, along with a promising prospect pipeline of ₹ 6 lakh crore, which is likely to be awarded over the next few years. The orderbook is expected to be executed in the next five to six years," Sobti added. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
The Hindu
23-06-2025
- Business
- The Hindu
DRDO offers 28 indigenous weapon systems to defence forces for emergency procurement
In line with the government's self-reliance push, the Defence Research and Development Organisation (DRDO) has offered 28 existing weapon systems that it designed and developed, for emergency procurement by the armed forces. 'Under emergency procurement, all three forces — the Army, Navy and the Air Force — are allowed to add new and replenish existing weapon systems as per their requirement. There is a long list of weapons like rockets, missiles, grenades, anti-drone missiles, and many more that the DRDO is offering to defence forces,' sources said. Opinion: Lessons from Operation Sindoor's global outreach The development comes at a time the government has already approved emergency arms procurement powers for forces. Befitting reply A top source in the Defence Ministry said that it was a well-established fact that during Operation Sindoor, the indigenously developed weapons performed well and gave a befitting reply to Pakistan and thwarted its attack. The government has also made it clear on several platforms that Operation Sindoor is still on. To make the procurement smooth for the Army, the Indian Air Force and the Navy, the DRDO has given them a list of vendors and products (weapons). The list includes the names of private defence manufacturers and public sector undertakings (PSUs). The forces have been given the option to order from a list of 28 different pieces of equipment, including 14 for the Army, eight for the Navy, and six for the Indian Air Force. The DRDO has been the main developer of weapons for Indian defence forces. Its BrahMos supersonic cruise missiles, MRSAM air-edge fence missile systems, and Akash air-edge fence systems were behind the success of Operation Sindoor, launched in response to the Pahalgam terror attack. On May 10, following retaliation by Pakistan, Indian defence forces conducted strikes on Pakistani airbases, including Murid and Nur Khan.
Time of India
10-06-2025
- Business
- Time of India
BEL, BEML, BDL, Data Patterns and other defence stocks in focus as Indian Army eyes Rs 30,000 crore air defence missile system
Defence stocks such as Bharat Electronics ( BEL ), BEML , Bharat Dynamics ( BDL ), Data Patterns , Paras Defence and others will be in focus on Tuesday following reports that the Indian Army is set to acquire an indigenous Quick Reaction Surface-to-Air Missile ( QRSAM ) system worth Rs 30,000 crore. According to news agency ANI, the Defence Ministry is expected to take up the proposal soon for the purchase of three QRSAM regiments for Army Air Defence. These systems, developed by the Defence Research and Development Organisation ( DRDO ), are intended for deployment along India's western and northern borders. Also Read: KEI Industries, DCB Bank among 10 small-cap stocks analysts expect to gain up to 75% Designed for mobility and rapid response, the QRSAM systems can track and engage targets on the move and fire after brief halts. With a range of around 30 km, the QRSAM will complement existing platforms like Akash and MRSAM in the short to medium-range category. Officials said the missile system has undergone extensive trials under both day and night conditions. Live Events Also Read: Dixon Technologies, LIC Housing Finance among 10 mid-cap stocks analysts expect to gain up to 40% The Defence Acquisition Council (DAC) is likely to meet in the fourth week of June to consider the proposal. The move follows recent skirmishes where the Indian Army's Air Defence units effectively countered drones from across the border using L-70 and Zu-23 air defence guns, while systems like Akash, MRSAM, and the IAF's Spyder and S-400 played a key role. Also Read: Vishal Mega Mart, SBI Card among 8 large & midcap stocks that hit 52-week highs on Monday To enhance preparedness, the Army Air Defence is also set to induct new radars, very short-range air defence systems, jammers, and laser-based anti-drone technologies. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ETMarkets WhatsApp channel )
India.com
09-06-2025
- Business
- India.com
Meet QRSAM – India's Strongest Rs 30,000 Cr Missile Wall That Will Crush Pakistan's Drones, Block China's Jets
New Delhi: India is set to bring home a deadly new shield, the Quick Reaction Surface-to-Air Missile (QRSAM) system, in a deal worth Rs 30,000 crore. It is fast and smart. And it kills moving threats in seconds. It is a mobile missile defence system designed to track and destroy enemy aircraft and drones in real-time. It reacts quickly, locks onto fast-moving targets and takes them out in a flash. This new system will be deployed near the Pakistan and China borders. Three full regiments will protect the skies. Sources say the Ministry of Defence is ready to seal the deal with the DRDO. The QRSAM is a beast in battle. It can track enemy aircraft from 120 km away. It can lock onto threats from 80 km. And it does not wait. It finds. It fires. It finishes. It works in the day. It works at night. It can move from place to place. And most importantly, it takes down moving targets at short notice. The QRSAM will strengthen India's short-to-medium range air defence, support systems like MRSAM and Akash and fill the gaps by intercepting threats that sneak in under radar coverage. With a range of 30 km, it will team up with India's other missiles such as MRSAM and Akash to trap anything that tries to enter Indian airspace. A top-level meeting is expected later this month. Sources say QRSAM could soon be inducted into the armed forces. After May's Conflict, India Moves Fast From May 7 to 10, India and Pakistan clashed in a shadow war. Pakistan fired Chinese missiles. It sent Israeli drones. But none could breach India's air shield. Akashteer, S-400 and Iron Drone systems struck them down mid-air. Not a single missile made it to its target. Akashteer became the unexpected hero. It is powered by artificial intelligence. It controls all ground air-defence systems through one brain. It connects radars, sensors and comms in real time. That edge saved lives. Difference between QRSAM and S-400 S-400 is a long-range defence system with a reach of up to 400 km. The QRSAM is for short-range and fast-reaction strikes within 30 km. While S-400 locks onto threats from far away, the QRSAM is designed to handle close-in, sudden threats like low-flying jets and drones. S-400 is the king of India's air defence. It blocks enemy missiles, rockets, drones and fighter jets. Russia made it. India bought five units in 2018 for Rs 40,000 crore. Each unit is mobile. It can move fast. Its radar sees targets from 600 km away. Within minutes, it is ready to fire. It can track 160 targets at once and launch two missiles per threat. The version India has hits from 400 km away. It can also strike threats 30 km above the ground. That makes it one of the world's most advanced defence systems. With QRSAM joining forces with Akash, S-400 and Iron Dome-style defences, India is building an air wall no missile can cross.
India Today
09-06-2025
- Business
- India Today
Government likely to clear new 3 air defence missile regiments for army
In order to boost India's air defence systems along the Pakistan border, the Ministry of Defence is expected to clear a deal for the procurement of three new regiments of the indigenous Quick Reaction Surface to Air Missile (QRSAM) systems for the Indian officials told India Today that the proposal will be reviewed during the upcoming meeting of the Defence Acquisition Council, scheduled around the fourth week of systems are intended for deployment along both the western and northern borders adjoining Pakistan. The QRSAM, with a range of approximately 30 kilometres, is designed to complement existing short-to-medium-range air defence platforms such as the Akash and Medium Range Surface to Air Missile (MRSAM) systems currently in decision comes in the wake of Operation Sindoor, during which Indian Army and Air Force air defence units successfully countered Pakistani aircraft, missiles, and drone the four-day cross-border firing with Pakistan, the Indian Army's Air Defence units destroyed the majority of the drones using L-70 and Zu-23 air defence guns, along with the Akash, MRSAM, and the Indian Air Force's Spider and Sudarshan S-400 QRSAM system has undergone extensive trials and demonstrated effective performance in both day and night operational addition to the proposed QRSAM acquisition, the Army Air Defence is also enhancing its capabilities with new radars, very short-range air defence systems, jammers, and laser-based technologies to counter aerial threats, including drones of Turkish and Chinese Watch
