Defense share: The stock market is witnessing a decline on Tuesday. Investors are making profits at high levels. Banking and IT sectors are seen to be profitable. After a decline of more than 200 points, the Nifty started trading below 24,700. Meanwhile, the defense sector shares were purchased.
Despite the weakness in the stock market on Tuesday, the Nifty India Defense Index shows a growth of 4.35%. BDL is witnessing an increase of 9.40% in defense shares. The shares of HAL, BEML, India Electronics have increased by more than 4%.
Electricity rates increased, additional weight up to 10% on consumers
After the end of the military campaign between India and Pakistan, the defense shares increased by 7 percent on Tuesday after Prime Minister Narendra Modi in his address to the nation in his address to the nation. After India started Operation vermilion in response to the Pahalgam terror attack on 22 April, Modi also stressed the need to increase self -sufficiency in the military sector.
On Tuesday, the shares of India Electronics (BEL) rose 4.5 per cent to 337.30 per share to all -time high after the Prime Minister emphasized the need to increase self -sufficiency in the defense sector. The share price of India Dynamics rose 7.8 percent to Rs 1,692.35 per share. Apart from this, the shares of Hindustan Aeronautics increased by 4%. The shares of Majgaon dock shipbuilders increased by 4%.
Prime Minister Modi emphasized that India has demonstrated its abilities in modern war. He said that now the time of ‘Made in India’ defense products has come. According to media reports, the award given to them for local defense production is in line with the rapid progress in India’s domestic defense sector. Official figures show that in FY 2024, the country’s defense production reached Rs 1.27 lakh crore. The Make in India initiative has seen a significant increase of 174% from 2014-15.
On the other hand, shares of private companies Paras Defense and Space Technologies, Data Pattern, Scient DLM, Dynamic Technologies, Gen Technologies increased by 2-3%. Meanwhile, the Indian Benchmark Equity Index BSE Sensex and Nifty remained under pressure today as investors made profits after a record gains in the previous session. The BSE Sensex was down by 793.73 points or 0.96% at 81,636.17 and the Nifty was down by 202.55 points or 0.81% to 24,722.15.
