Defence Stocks Surge Amid Operation Sindoor Impact
Defense-related stocks, including drone and missile manufacturers, experienced a significant surge following India's Operation Sindoor. Notable increases were seen in Paras Defence, Astra Microwave, and Hindustan Aeronautics. The equity market, however, saw a decline in indexes. Defense stocks have been gaining attention since the operation commenced.
- Country:
- India
Shares of defense-related firms, notably those involved in drone and missile manufacturing, surged on Friday, as part of an ongoing winning streak. This rise coincides with heightened attention due to India's Operation Sindoor.
Paras Defence and Space Technologies saw an 18.90% increase, while Data Patterns rallied by 9.25%. Astra Microwave Products surged 7.10%, Hindustan Aeronautics gained 5.40%, Mishra Dhatu Nigam rose 4.63%, Bharat Electronics climbed 3.87%, and Bharat Dynamics went up by 1.95% on the BSE. Additionally, Droneacharya Aerial Innovations reported a 2% rise.
Despite the buoyancy in defense stocks, the broader equity market experienced a dip. The 30-share BSE Sensex fell by 200.15 points, or 0.24%, closing at 82,330.59. Similarly, the NSE Nifty dropped 42.30 points, or 0.17%, settling at 25,019.80. Defense stocks have been in the spotlight since India launched Operation Sindoor on May 7, targeting terror infrastructures in response to the Pahalgam terror attack on April 22, which resulted in 26 fatalities.
(With inputs from agencies.)
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