India's defence stocks jump after acquisition council clears $11.6 billion worth proposals

Paras Defence and Space Technologies

08/09/2026 05:31

** Shares of India's defence companies .NIFTYINDDEFENCE up 2.2%
** Bharat Electronics BAJE.NS, Hindustan Aeronautics HIAE.NS rise 2.4% and 3.5%, respectively
** Paras Defence PRAF.NS, BEML BEML.NS and Data Patterns DATP.NS jump 4.2%-5.5%
** India's defence acquisition council (DAC) clears capital acquisition proposals worth 1.1 trillion rupees ($11.64 billion) for defence forces
** Goldman Sachs says proposals focused on surveillance, counter-measures and deterrence platforms rather than large, traditional and expensive platforms, which will improve participation of private players
** Clearance of advanced light helicopters and proposals to enhance fighter jet capabilities are positive for HIAE, approvals for ground-based jammers positive for BAJE, says JM Financial
** "These approvals strengthen medium-to-long term order visibility for Indian defence manufacturers, with the high domestic sourcing component providing opportunities across platforms, electronics and critical systems," says ICICI Securities
** YTD, defence index up 28.6%
     

(Reporting by Vivek Kumar M)
((VivekKumar.M@thomsonreuters.com;))