Indian defence stocks gain after govt's $2.6 bln proposal approval

ideaForge Technology

04/12/2024 04:18

** Indian defence stocks rise between 1.3% and 4% 
    ** The Defence Acquisition Council approves five proposals
worth 217.72 bln rupees ($2.57 bln) to enhance operational
capabilities of the armed forces
    ** Data Patterns Ltd  DATP.NS  leads pack with 4% gain;
state-owned Hindustan Aeronautics Ltd  HIAE.NS  and Bharat
Electronics Ltd  BAJE.NS  rise 1.3% and 1.6% respectively
    ** Mazagon Dock Shipbuilders Ltd  MAZG.NS , Bharat Dynamics
Ltd  BARA.NS , Ideaforge Technology Ltd  IDEF.NS , Paras Defence
and Space Technologies Ltd  PRAF.NS  up between 1.9% and 3.1%
    ** Analysts tracking stocks rate most at "buy" or higher;
PRAF rated "sell" and MAZG at "hold" - LSEG data
    ** MAZG leads pack with YTD gains of 110%


($1 = 84.6700 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))