India's defence, shipbuilder stocks jump on Modi's push for indigenous equipment

Hindustan Aeronautics

13/05/2025 07:41

** India's defence, shipbuilder stocks .NIFTYINDDEFENCE jump 3.8% on expectations of increased orders after India-Pakistan conflict

** Narrative for India-made defence equipment strengthened after Modi's comments on Monday, two analysts said

** "Time has come for made-in-India defence equipment," Modi said during a national address, adding Operation Sindoor proved the strength of these equipment

** "Government may aggressively dole out fresh defence orders and export market may expand for Indian companies," says Sunny Agrawal, head of fundamental research at SBICAPS Securities

** Bharat Electronics BAJE.NS and Hindustan Aeronautics HIAE.NS gain ~4% each

** Mazagon Dock Shipbuilders MAZG.NS and Cochin Shipyard COCH.NS add 3.7% and 4%, respectively

** JP Morgan says India's defence sector still in "early stages of a long runway of growth"

** NIFTYINDDEFENCE gains 8% since the attack in Kashmir on April 22

 (Reporting by Vivek Kumar M)

 ((VivekKumar.M@thomsonreuters.com;))