Defence stocks soar amid India-Pakistan border tensions
Shares of defence companies rallied sharply on Friday, rising between 1.59% and 14.24%, as escalating tensions along the India-Pakistan border reignited investor interest in the defence sector.
Apollo Micro Systems led the charge with a 14.24% gain, followed by Astra Microwave Products (5.63%), Paras Defence and Space Technologies (5.46%), and Bharat Dynamics (5.37%). Other notable gainers included ZEN Technologies (5%), Mishra Dhatu Nigam (4.64%), Mazagon Dock Shipbuilders (4.01%), Data Patterns (India) (3.52%), Bharat Electronics (2.62%) and Hindustan Aeronautics (1.59%).
The rally comes on the heels of Indias successful overnight interception of Pakistani missile and drone attacks targeting key military installations in Jammu, Pathankot, and Udhampur. The swift response reportedly neutralised multiple threats across 15 locations in northern and western India.
According to market analysts, the surge in defence stocks is also backed by strong order books and recent order wins. While India currently allocates around 2.3% of its GDP to defence spendinglower than global peers spending 35%analysts anticipate a 78% annual rise in capital outlay over the next five years, potentially fueling further growth in the sector.
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