Defence Stocks Surge Up To 10% As Index Rises For 6th Session

Mumbai: Defence stocks in India saw a strong rally on Wednesday with the Nifty India De-fence index rising nearly 1 per cent to trade above 8,715. This marks the sixth straight day of gains for the index, even as broader markets remained volatile.

The top performer on the index was Unimech Aerospace and Manufacturing, whose shares surged 10 per cent to hit the upper circuit at Rs 1,179.50. Another major gainer was Astra Mi-crowave Products, whose shares jumped 7 per cent to trade at Rs 1,169. Zen Technologies shares were also locked in the upper circuit after a 5 per cent jump to Rs 2,013.60.

Shares of GRSE and Cochin Shipyard went up around 2 per cent, while Solar Industries and BEL rose over 1.3 per cent.

Data Patterns shares also climbed more than 1 per cent. Other stocks like Mishra Dhatu Nigam (Midhani), Mazagon Dock Shipbuilders, and MTAR Technologies also traded with slight gains. However, some defence stocks closed the intra-day trading session lower. Major players like HAL and Paras Defence slipped slightly into the red. BDL and BEML dropped by over 2 per cent each.