17 Jun , 2025 By : Debdeep Gupta
Defence stocks: The sharp rise in the share price pushed the Nifty Defence index up over 1.3 percent to hover around 8,982.
Defence stocks gained traction on June 17 as the war between Israel and Iran entered its fifth day, extending hopes for higher order inflows for the domestic defence players. The sharp rise in the share price pushed the Nifty Defence index up over 1.3 percent to hover around 8,982.
Mazagon Dock Shipbuilders shares jumped nearly 5 percent to trade at Rs 3,322 apiece. Notably, the stock has now snapped a four-day losing streak during which investors resorted to profit booking after record rally.
Data Patterns shares followed, rising over 2.5 percent to trade at Rs 3,035 apiece. Garden Reach Shipbuilders and Engineers (GRSE) and Bharat Dynamics (BDL) shares gained over 2 percent each, while those of Cochin Shipyard rose over 1.7 percent.
DCX India, Paras Defence and BEML shares gained over 1 percent, while Hindustan Aeronautics (HAL), Solar Industries, Cyient DLM, Bharat Electronics (BEL) and Astra Microwave Products shares were trading in the green with marginal gains.
Despite the uptrend in the sector, Zen Technologies and few other defence stocks were trading in the red with marginal losses.
Iran and Israel are continuing to exchange missiles between each other, causing significant casualties on both sides. Additionally, US President Donald Trump urged Iranians to evacuate Tehran. "Iran should have signed the 'deal' I told them to sign. What a shame, and waste of human life. Simply stated, IRAN CAN NOT HAVE A NUCLEAR WEAPON. I said it over and over again! Everyone should immediately evacuate Tehran!" Trump wrote in a post on his Truth Social platform.
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