Defence Stocks Rally Despite Market Weakness: HAL and GRSE Lead Gains
Defence stocks: HAL, GRSE, Apollo Micro gain up to 3% in weak market
Business StandardImage: Business Standard
Shares of defence companies, including Hindustan Aeronautics Limited (HAL) and Garden Reach Shipbuilders & Engineers (GRSE), rose by up to 3% on the National Stock Exchange (NSE) amid a subdued market. The Nifty India Defence index approached its 52-week high, driven by strong quarterly performances and robust order books.
- 01Defence stocks gained up to 3% in a weak market, with the Nifty India Defence index reaching 9,093.20.
- 02Hindustan Aeronautics Limited (HAL) saw a 3% rise, with a strong order book valued at βΉ2.54 trillion.
- 03Ideaforge Technology's stock surged 9% after reporting record quarterly revenues and profits.
- 04MTAR Technologies' shares increased by 3%, reflecting a 160% rise in 2026 despite market declines.
- 05Analysts remain optimistic about the long-term growth of defence stocks amid increasing demand.
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In Tuesday's trading session, shares of various defence companies, including Hindustan Aeronautics Limited (HAL) and Garden Reach Shipbuilders & Engineers (GRSE), rose by up to 3% on the National Stock Exchange (NSE), despite a generally weak market. The Nifty India Defence index reached an intra-day high of 9,093.20, approaching its 52-week high of 9,159.55 from June 2025. In contrast, the Nifty 50 index fell by 0.74% to 23,940.75. HAL's stock price increased to βΉ4,677.50, marking an 8% rise over the past two trading days, supported by a robust order book of βΉ2.54 trillion. Meanwhile, Ideaforge Technology hit a 52-week high of βΉ796.30, surging 9% after reporting significant quarterly revenues and profits, indicating strong market performance. The stock has increased 97% in the past month, far outpacing the 5.3% rise in the Nifty 50. Additionally, MTAR Technologies saw its shares rise by 3% to βΉ6,314, reflecting a 160% increase this year, despite the Nifty 50's decline. Analysts remain optimistic about the defence sector's growth amid increasing demand for advanced technologies.
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The rise in defence stocks could signal increased investment in the sector, potentially leading to job creation and economic growth in the defence industry.
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