India's defence stocks surge on record defence production, exports in FY2026
BUZZ-India's defence stocks surge on record defence production, exports in FY2026 ** Nifty India Defence index .NIFTYINDDEFENCE jumps nearly 3%, its biggest intraday rise in a month
** Benchmark Nifty 50 .NSEI up 0.2%
** Bharat Electronics BAJE.NS up 2%, Hindustan Aeronautics HIAE.NS rises 3.6%; Bharat Dynamics BARA.NS and Data Patterns DATP.NS gain 4.3% and 5.2%, respectively
** Government says annual defence production surged to record 1.78 trillion rupees ($18.87 billion) in FY2026, a 15.6% y/y rise
** Record defence exports of 384.24 billion rupees in FY2026, government says
** Defence stocks also aided by India's agreement with Thailand on Tuesday to deepen collaboration in defence manufacturing and research, analysts say
** YTD, .NIFTYINDDEFENCE up 21.3% vs 8% fall in .NSEI
($1 = 94.3400 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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