Shares of defence companies such as Hindustan Aeronautics, BEL, Paras Defence, BEML, Astra Microwave, among others rose up to 4% on Tuesday after the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, gave in-principle approval to acquisition proposals worth around Rs 1.10 lakh crore for the Indian defence forces. Around 98% of the approved procurements will be sourced from Indian industry.
In today’s session, defence stocks traded higher, with Hindustan Aeronautics Ltd (HAL) rising 2% to Rs 4,943 and Astra Microwave Products gaining over 4% to Rs 1,783. Paras Defence and Space Technologies advanced 3% to Rs 1,530 on the BSE. BEML rallied 3% to Rs 2,159, while ideaForge Technology and Zen Technologies gained 2% each.
