Indian defence firms extend rally ahead of federal budget

ideaForge Technology

01/02/2026 04:53

** Shares of Indian defence stocks climb between 1.5% and 5.2% ahead of India's federal budget for fiscal 2027

** Investors expect higher defence spending from the government, which aims to accelerate push for local manufacturing

** Drone maker Ideaforge Tech IDEF.NS leads gains among pack with 5% climb; Data Patterns DATP.NS up 4.5%

** Defence equipment makers Bharat Electronics BAJE.NS and Bharat Dynamics BARA.NS rise about 2.4% each, Garden Reach Shipbuilders GRSE.NS gains 2.3%

** Nifty India defence index up 1.9%, climbed 5.6% in January

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))