Indian defence stocks tumble after recent rally

ideaForge Technology

20/05/2025 11:19

** Shares of Indian defence company stocks are down between 3.5% and 8%

** Cochin Shipyard COCH.NS tumbles 8%, Paras defence PRAF.NS falls 6%, Ideaforge IDEF.NS down 5.7% and Garden Reach Shipbuilders GRSE.NS slips 3.5%

** Defence stocks are seeing profit booking, especially post the recent rally on the back of India-Pakistan conflict, said Sunny Agrawal, head of Fundamental Equity Research at SBI Securities

** Including session's move, PRAF up 17% so far in May; while COCH has gained 15% this month

** IDEF gained 42% in May, while GRSE rose 29.5%

 (Reporting by Nishit Navin in Bengaluru)