Shares of defence companies, including ideaForge, Paras Defence, Data Patterns, Bharat Electronics (BEL), Hindustan Aeronautics (HAL), Bharat Dynamics, Mazagon Dock and Cochin Shipyard, fell up to 5% on Tuesday as investors booked profits following the previous session's sharp rally.
The rally on Monday came after the Defence Acquisition Council (DAC) approved capital acquisition proposals worth about Rs 52,000 crore. The approvals span a range of procurements aimed at enhancing the operational capabilities of the Army, Navy and Air Force, including air defence systems, anti-drone technologies, surveillance equipment and unmanned warfare platforms.
