India's defence stocks rise for sixth session, hit seven-week high

Hindustan Aeronautics

21/03/2025 05:09

** India's defence stocks .NIFTYINDDEFENCE up more than 1% to seven-week high of 6,243.6 points; set for sixth straight day of gains

** Defence acquisition council approves purchase of arms and equipment worth more than 540 billion rupees ($6.3 billion)

** Defence index up more than 10% so far this week on bargain hunting and deal wins; YTD, index is down about 4%

** Garden Reach Shipbuilders & Engineers GRSE.NS up 30% for the week, signs pact with public works authority to supply steel bridges in Nagaland state

** GRSE on course for biggest pct gains since May 2024

** Cochin Shipyard COCH.NS and Mazagon Dock Shipbuilders MAZG.NS up nearly 12% each for the week, set for best pct gains since November 2024

** Bharat Electronics BAJE.NS and Hindustan Aeronautics HIAE.NS up 6.4% and 15%, respectively, for the week, while Ideaforge Technology IDEF.NS and Bharat Dynamics BARA.NS jump 19% and 15%, respectively

 (Reporting by Vivek Kumar M)

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