Indian defence, shipbuilder stocks tumble after Iran-Israel ceasefire

Hindustan Aeronautics

24/06/2025 07:37

** Indian defence and shipbuilder stocks drop after U.S. President Donald Trump announced a ceasefire between Iran and Israel after a 12-day conflict

** Shipbuilder Garden Reach GRSE.NS leads losses with 6.7% slump, trailed by 4.3% drop in Paras Defence PRAF.NS

** Defence index .NIFTYINDDEFENCE drops 2%, set for its worst day in a month

** The index gained 5% since June 13 when the conflict began

** Defence equipment makers Zen Tech ZETE.NS and Bharat Dynamics BARA.NS shed 3.6% and 3.4%, respectively; Bharat Electronics BAJE.NS down 0.4%

** Warplane maker HAL HIAE.NS and drone maker Ideaforge IDEF.NS lose ~2% each

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))