Defence Stocks Soar Amid India-Pakistan Tensions
Defence stocks surged as geopolitical tensions between India and Pakistan heightened. Multiple attacks by Pakistan's forces were effectively repulsed by India. The Indian Army's response, coupled with expectations of increased defence spending, drove significant market gains for companies like Paras Defence, Bharat Dynamics, and drone manufacturers.
- Country:
- India
On Friday, defence stocks experienced a notable surge, fueled by the escalating tensions between India and Pakistan. These stocks soared due to anticipated increases in defence spending resulting from the geopolitical friction between the two nations.
The Indian Army reported that multiple attacks launched by Pakistan's armed forces, including drone assaults along the western border on the night of May 8-9, were effectively repulsed. Additionally, numerous ceasefire violations along the Line of Control in Jammu and Kashmir were addressed decisively.
The market reflected these developments, with shares of Paras Defence and Space Technologies Ltd climbing 7.18%, Bharat Dynamics Ltd increasing by 5.34%, and other defence-related stocks like Hindustan Aeronautics Ltd and Bharat Electronics Ltd also experiencing gains. The drone sector, particularly companies like Ideaforge Technology Ltd, saw significant growth as well.
(With inputs from agencies.)
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