India-Pak War Fires Up Defence Stocks

New Delhi: Defense stocks surged on Friday morning trade as India swiftly thwarted Pakistan’s fresh attempts to strike military sites with drones and missiles, including in Jammu and Pathankot, after foiling similar bids at 15 places in northern and western regions of the country, as tensions soared between the two countries amid fears of a wider conflict.

Pakistan’s armed forces launched multiple attacks using drones and other munitions along the entire western border on the intervening night of May 8-9, which were “effectively repulsed”, the Indian Army said on Friday.

Pakistani troops also resorted to “numerous ceasefire violations” along the Line of Control in Jammu and Kashmir, the Indian Army said in an early morning post on X. Shares of Bharat Dynamics Ltd zoomed 9.73 per cent, Paras Defence and Space Technologies Ltd surged 5.89 per cent, Bharat Electronics Ltd rallied 4.88 per cent, Garden Reach Shipbuilders & Engineers Ltd went up by 3.63 per cent, and Hindustan Aeronautics Ltd climbed 3.60 per cent on the BSE. Drone manufacturers Ideaforge Technology Ltd jumped 18 per cent and Droneacharya Aerial Innovations Ltd rallied 4.99 per cent.

The drone attacks were “effectively repulsed” and a “befitting reply” was given to the ceasefire violations, the Indian Army said. “#IndianArmy remains committed to safeguarding the sovereignty and territorial integrity of the Nation. All nefarious designs will be responded to with force,” it added. The developments followed the precise missile strikes carried out by the Indian armed forces on nine terror targets in Pakistan-occupied Kashmir (PoK) and Pakistan early on Wednesday under ‘Operation Sindoor’, in retaliation for the April 22 Pahalgam terror attack.