India's defence stocks gain on report govt to clear $17 bln worth projects

Data Patterns (India)

24/11/2023 09:23

** Shares of Indian defence companies rise between 1%-6% on
a report that the govt is set to clear three projects worth 1.4
trillion rupees ($16.8 bln)
    ** The projects are to make figher jets, aircraft carriers
and helicopters, the Times of India reports
    ** State-owned Hindustan Aeronautics Ltd (HAL)  HIAE.NS 
increases nearly 5% to a fresh record high
    ** Bharat Dynamics  BARA.NS , which makes guided missile
systems, rises ~4%
    ** Bharat Forge  BFRG.NS , which makes artillery guns,
armoured and protective vehicles, gains about 2%
    ** Data Patterns  DATP.NS , which makes defence and aero
electronic systems, jumps nearly 6%, the most in 3 months
    ** Mazagon Dock Shipbuilders  MAZG.NS  up 1.6%
 
 ($1 = 83.2440 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))