Indian defence-linked stocks jump on govt nod for proposals worth 78 bln rupees

Solar Industries India

25/08/2023 06:06

** Shares of defence-linked companies rise after India's
defence acquisition council approves proposals worth 78 bln
rupees
    ** Paras Defence and Space Technologies  PRAF.NS , Premier
Explosives  PRMR.NS , Bharat Electronics  BAJE.NS , MTAR
Technologies  MTAR.NS  and Solar Industries  SLIN.NS  jump
between 1.7% and 4.5% each
    ** Proposals pertain to enhancing efficiency of Indian Air
Force, procuring guns, tanks and systems for mechanised infantry
and unmanned surveillance
    ** BAJE, which will provide the electronic warfare (EW)
suite to Indian Air Force, gained as much as 2.64% to a record
high
    ** PRMR, SLIN also scaled fresh all-time highs on Friday

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))