IndiGo to BEL: Top Six Stocks to Watch After Airports Authority of India’s ₹17,000 Crore Expansion Push
AAI’s ₹17,000 crore airport infrastructure expansion may boost aviation, defence tech and airline stocks. Experts recommend six stocks to watch or buy now.
AAI’s ₹17,000 crore infrastructure upgrade is expected to boost aviation, tech, and airline stocks.
Monday, November 24, 2025, will see a continual spotlight on the aviation and defence technology markets sectors as they open up. This is in the wake of the Airports Authority of India (AAI) disclosing its ambitious investment plan of ₹15,000–₹17,000 crore over the period of next four years to modernize and develop airspace and airport infrastructure in India.
The revelation is viewed as a significant long-term advantage for the whole aviation ecosystem, affecting all market players from airport operators to aircraft and radar tech suppliers.
Why This Investment Matters
AAI’s expansion blueprint includes upgradation, construction and automation of Air Traffic Control (ATC) towers across 65 airports. The goal is to ease congestion, improve operational efficiency, reduce delays and enhance air safety.
“This investment is a material long-term positive for the Indian aviation ecosystem,” said Seema Srivastava, Senior Research Analyst at SMC Global Securities. She added that the move will support multiple segments including airport operators, automation technology providers, MRO companies and airlines.
Who Stands to Gain?
Airport operators such as GMR Airports and Adani Airports may benefit from increased passenger capacity and improved slot availability, potentially boosting both aero and non-aero revenue.
Defence and aviation technology firms including Bharat Electronics (BEL), Data Patterns and Cyient are expected to see multi-year business opportunities as AAI procures advanced communication systems, radar equipment and automation solutions.
Airlines like IndiGo and SpiceJet may also gain from improved operational efficiency. Faster aircraft turnaround time, better fuel optimisation and reduced congestion could elevate margins while supporting higher capacity deployment. Among the two, experts believe IndiGo is best positioned to capitalise due to its strong balance sheet and dominant market share.
Stocks Recommended by Market Analysts
Analysts have highlighted six stocks likely to benefit from the aviation infrastructure upgrade:
- GMR Airports is expected to gain from improved footfall and additional operational scope due to increased airport capacity.
- Bharat Electronics (BEL) may see stronger defence and aviation automation orders linked to radar and surveillance infrastructure.
- IndiGo (InterGlobe Aviation) is seen as the strongest aviation beneficiary thanks to its financial strength and market dominance.
- SpiceJet could gain from improved operational and turnaround efficiency, although risks remain due to its financial structure.
- Data Patterns (India) is positioned to benefit from increased demand for ATC and surveillance technology.
Cyient Ltd may see rising orders in automation and aviation engineering services.
Market Outlook
It is anticipated that the proclamation of investment will become a long-term growth catalyst. Analyst’s view is that the stocks of companies related to aviation may attract new investors during the next months due to improved aviation capacity, increasing domestic travel and modernization of infrastructure.
According to Srivastava, the investment marks the beginning of a potential multi-year growth cycle for aviation infrastructure and defence-tech suppliers supporting India’s airspace modernisation.
