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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
First Post
4 hours ago
- First Post
India likely to avoid trade ban on Turkey due to $2.73 bn surplus
India is restricting Turkish involvement in key infrastructure projects over security concerns but is avoiding a full trade ban. Despite industry calls, the government is unlikely to impose a trade ban, due to $2.73 billion trade surplus. read more While India is taking steps to limit Turkish involvement in key infrastructure projects on national security grounds, it is less inclined to impose similar restrictions on overall trade. This is despite industry groups calling for a ban on imports such as apples and marble. The main reason is that India runs a $2.73 billion trade surplus with Turkey, and blocking trade could harm India's own interests. 'We have received several representations requesting a ban on imports from Turkey. Apple growers from Himachal Pradesh have specifically sought a ban on Turkish apple imports. However, India maintains a trade surplus with Turkey, and we must also consider the interests of our exporters. A trade ban could send a strong geopolitical message, but it's a question of how far we are willing to take it,' a government official told The Indian Express. STORY CONTINUES BELOW THIS AD The trade surplus is significant because India primarily exports industrial goods to Turkey—such as engineering products, electronics, and chemicals—which have steadily increased over the past five years. In contrast, Turkey's exports to India are mainly limited to fruits, nuts, gold, and marble. Following the Ukraine war, Turkey had ramped up its imports of petroleum products from India, but this category has seen a sharp decline in FY25. This development comes in the wake of Turkey backing Pakistan during heightened tensions with India, after New Delhi carried out Operation Sindoor targeting terror hubs in Pakistan and Pakistan-occupied Kashmir (PoK). Last month, apple growers from Himachal Pradesh met officials from the Union Commerce Ministry, demanding a ban on apple imports. They claimed that cheap, subsidised Turkish apples are damaging the domestic horticulture sector and pushing local farmers into financial distress. They also emphasised that apples are not merely a crop, but the economic backbone of hill states. Marble processors from Udaipur also wrote to the Prime Minister's Office (PMO) last month, seeking restrictions on marble imports from Turkey. Earlier this month, Turkish President Tayyip Erdogan met Pakistani Prime Minister Shehbaz Sharif in Istanbul and stated that both countries would work to deepen cooperation, especially in defence, energy, and transport, according to a statement from Erdogan's office. Pak gets strong Turkey backing About two weeks ago, Turkey reaffirmed its close ties with Pakistan, which are rooted in shared religious identity and historical links. Erdogan also expressed solidarity with Pakistan after India conducted military strikes in response to a terror attack in Pahalgam carried out by Pakistan-backed militants.
News18
5 hours ago
- News18
India Reduced Poverty By Record Levels But 45% Of Pakistan's Population Is Poor, Reveals World Bank
Last Updated: In an assessment earlier this April, the World Bank said 1.9 million additional people fell into poverty in 2024-25 in Pakistan India has brought a record number of people out of poverty as per the World Bank, but the latter's latest projection on Pakistan says nearly 45 per cent of its population lives in poverty, while 16.5 per cent lives in extreme poverty. This is after a World Bank revision of the threshold poverty line last week. In an assessment earlier this April, the World Bank had said 1.9 million additional people fell into poverty in 2024-25 in Pakistan. India has been making a case before the IMF and the World Bank that Pakistan has been misusing global aid for the purposes of terrorism against India. The World Bank data could be further used by India to raise strong doubts on how Pakistan has been using global aid from agencies like the International Monetary Fund (IMF) for the purported benefit of its common people. India's extreme poverty rate declined sharply to 5.3 per cent over a decade from 27.1 per cent in 2011-12, even as the World Bank has revised upwards its threshold poverty line to $3 per day. India has lifted 171 million people from extreme poverty in the decade between 2011-12 and 2022-23, as per the World Bank. The World Bank report on Pakistan in April said the country's 2.6 per cent economic growth 'remains insufficient to reduce poverty". The poverty rate is estimated to stand at 42.4 per cent (US$3.65/day 2017 PPP) in FY25 in Pakistan, 'virtually unchanged from last year", the report said. 'With population growing at nearly 2 per cent annually, this translates to 1.9 million additional people falling into poverty this year," the report said. The World Bank also said the agriculture sector faces significant challenges in Pakistan as in 2025, weather conditions deteriorated with a 40 per cent reduction in rainfall, alongside pest attacks and shifting production choices. 'Crop yields are projected to decline, ranging from 29.6 per cent for cotton to 1.2 per cent for rice, limiting sectoral growth to under 2 per cent," the report says. With India putting the Indus Waters Treaty in abeyance, water flow to Pakistan's Punjab has also been severely affected, which could also put agriculture yield in Pakistan under severe stress. CNN-News18 had reported on Sunday that Pakistan's official data shows a 15 per cent drop in water flow in the Indus Water Basin in Punjab with the Dams Level at many Pakistani dams nearing the dead level. 'With agriculture employing approximately half of the working poor, rural poverty is expected to rise slightly (0.2 percentage points), while real incomes for agricultural workers are projected to fall 0.7 per cent in FY25. Food security concerns loom large, with an estimated 10 million people at risk of acute food insecurity in rural areas," the report says. The report said the consumption-based inequality in Pakistan has climbed nearly 2 points since FY21, holding steady just below 32 over the past year. 'However, actual inequality is likely higher since surveys typically underrepresent wealthy households. Additionally, external factors such as evolving global trade dynamics, could influence the pace of economic recovery and subsequent progress on poverty reduction." First Published: June 09, 2025, 08:12 IST
Indian Express
6 hours ago
- Indian Express
India's wind sector must innovate and secure, not just scale
Amid heightened Indo-Pak tensions, a Pakistani outlet claimed cyberattacks had knocked out 70 per cent of India's electricity. The false report exposed a very real anxiety: What happens when energy infrastructure becomes a frontline in cyber warfare? For years, the renewable energy sector has diligently optimised turbine efficiency, improved grid integration and focused on speedy deployment. These remain essential. However, an equally pressing threat looms quietly in the background: Cybersecurity and the pace of maximum value addition and localisation in manufacturing. Unlike finance or defence sectors, where digital safeguards have long been entrenched, robust cybersecurity measures are only now being introduced into India's renewable energy framework. And it's about time. A compromised SCADA (Supervisory Control and Data Acquisition) system or remote-access breach could disable a wind farm — or multiple sites — in mere seconds. As India pushes towards achieving 500 GW of non-fossil-based electric installed capacity by 2030, including an ambitious target of over 100 GW from wind, the true challenge goes beyond just scaling up. It lies in securing what we install and how it is manufactured. The proposed amendment requires all operational wind turbine data to be stored within Indian territory. Foreign entities will no longer be allowed to remotely access or control Indian wind farms, a clear attempt to eliminate vulnerabilities to external cyber threats. More importantly, Original Equipment Manufacturers (OEMs) will be required to establish R&D facilities in India, signalling a decisive shift from passive assembly to active domestic innovation. This aligns with NITI Aayog's 2024 roadmap, emphasising localisation of both hardware and control systems. Given the various global incidents where cyberattacks have crippled energy grids, India's push for digital self-reliance isn't just necessary — it's urgent. Mandating local R&D isn't just about job creation or investment; it's about creating wind turbine technology designed for India's grid, climate, and challenges. India — not China or Europe — must become the epicentre for wind turbine innovation and manufacturing. However, strong policy intent must translate into effective execution, and here the amendment stumbles. Firstly, there is a greater need to build capacity for enforcement. Without a concrete monitoring mechanism, these rules risk becoming paper mandates. Secondly, the amendment needs to articulate India-specific design adaptation clearly. Renewable energy projects here face extreme operating conditions — temperatures exceeding 45°C, saline coastal air, monsoon deluges, and erratic grid voltages. Yet, there is no mandate for in-country prototype testing or climate-resilience validation before inclusion in the RLMMs (Revised List of Models & Manufacturers). This oversight risks importing turbines built for European conditions that buckle under India's punishing climate. Third, the policy skirts the need for embedded systems security. Today, power converters used in wind turbines and solar inverters in solar projects are effectively software-defined assets. They depend on SCADA systems, PLCs, and firmware that may be compromised — often subtly and invisibly. Without mandatory audits of software stacks and hardware backdoors, especially from OEMs in adversarial jurisdictions, India's wind and solar assets remain vulnerable. To operate in India, vendors/OEMs must obtain certification and clearance from Indian authorities and adhere to Government of India (GOI) regulations. These regulations should include provisions for force majeure situations, where vendor/OEM-supplied equipment may fail to receive support and patches, potentially leading to significant security breaches and national security risks. This ensures that even in times of geopolitical uncertainty, India's energy infrastructure remains operable, supported, and secure. Additionally, existing regulatory frameworks — like the Central Electricity Authority's temperature thresholds or the National Institute of Wind Energy's certification protocols — are treated as optional references, not core requirements. This disconnect must be addressed if we want turbines that are not just 'Made in India' but truly Engineered for India. The writer is a Partner at Dalberg Advisors, where he leads climate-related projects in Asia Pacific and globally
