Defence stocks PTC Industries, BEL, HAL and 9 others gain up to 20% on policy continuity optimism
₹50,000 crore over the next five years, reaffirming an earlier milestone set by the government.Also Read: Indian stock market ready for a dream run, target Nifty 50 at 25,816: PLFollowing this development, shares of PTC Industries jumped 20% to touch a new record high of ₹14,930 apiece, while Paras Defence and Space Technologies also jumped 18% to hit a new peak of ₹1,141, while BEML shares gained 13% to reach ₹4,516.95 apiece. Other defence stocks such as Bharat Electronics, MTAR Technologies, Bharat Dynamics, ideaForge Technology, Zen Technologies, and Astra Microwave Products all gained between 3% and 8%.Shipbuilding stocks also saw an uptick, with Mazagon Dock Shipbuilders rising 6% in intraday trade, while Cochin Shipyard and Garden Reach Shipbuilders & Engineers jumped 4% and 7%, respectively.Also Read: HAL shares surge 7%, gain 167% in one year; what's driving the rally?"PM Modi has given me the responsibility of the Defence Ministry again.
Our priorities will be the same, the protection of the country. We want to develop a strong and 'Aatmanirbhar' Bharat.
We want to become self-reliant on defence manufacturing. We have exported defence equipment worth over ₹21,000 crore.
Our target is to take this figure to ₹50,000 crore in the next five years. We are proud of our three-armed forces, the Indian Army, Indian Navy, and Indian Air Force," Singh said.The Indian defence sector is undergoing a transformative phase marked by increasing funding, expanding defence budgets, and rising defence exports.
In FY23, defence exports surged by 240% over five years, reaching $1.9 billion ( ₹15,918.16 crore).India now exports to over 85 countries, thanks to collaborative efforts. The government in recent years has given clearance
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