Defence Stocks on the rise

On the insistence of Trump, North Atlantic Treaty Organisation (NATO), at the ongoing Hague meeting the 32 leaders endorsed a final summit statement saying: “Allies commit to invest 5% of GDP annually on core defence requirements as well as defence- and security-related spending by 2035 to ensure our individual and collective obligations.

On the back of this news, in anticipation of gaining more orders, defence stocks like HAL, Garden Reach, DCX Systems, Bharat Dynamics and BEL have surged, with the Nifty India Defece Index showing a good gain.

As per reports put out by Incred Research, India’s defence exports are projected to rise to over Rs.5 lakh crore by FY28.

Garden Reach rose almost 3%, HAL was up around 1.5%, BEL rose 2% and Bharat Dyamics was up 2.5%.