Surge in Defence Stocks Amid India-Pakistan Tensions
Defence stocks have seen a substantial rise, with Mishra Dhatu Nigam leading with a 15% surge. Following recent India-Pakistan tensions, these stocks, including those of drone manufacturers and missile makers, continue to attract interest. The BSE Sensex and NSE Nifty index also observed moderate growth.
- Country:
- India
Defence-related stocks, prominently including drone manufacturers and missile makers, have witnessed a significant uptick in demand as geopolitical tensions rise. On Wednesday, the stock of Mishra Dhatu Nigam soared by over 15%.
The positive trend was mirrored by other defence firms with Axiscades Technologies seeing a 5% rise, Paras Defence gaining 4%, and Hindustan Aeronautics increasing by 3.47%. Smaller gains were seen by Data Patterns, Bharat Electronics, Astra Microwave Products, and Bharat Dynamics as well.
The broader equity market showed a marginal increase, with the BSE Sensex gaining 182.34 points and the NSE Nifty rising by 88.55 points. The uptick in defence stocks comes in the wake of escalating conflict between India and Pakistan.
(With inputs from agencies.)
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