Defense Stock: In the shares of defense sector companies such as HAL, India Dynamics, BEL, Garden Reach Shipyard, Majhgaon Dock Shipbuilders, Paras Defense have increased by 12 per cent in intraday trading. The reason for this is said to be increasing tension between India and Pakistan.
Shares of Paras Defense and Space Technologies Limited
The shares of defense sector company Paras Defense and Space Technologies Limited rose by 9 percent in early trade in BSE today. The reason for this increase is financial results to be declared on April 30. It is being told that the company is capable of giving double growth to investors through the results of the January-March quarter as well as dividends and stock division. Paras Defense and Space Technologies shares were listed in the stock market on 1 October 2021.
How was the December quarter for Paras Defense?
The March quarter results will be declared on 30 April. Now if we talk about the results of the third quarter of FY 2024-25 i.e. October-December 2024, then the business results of the company were mixed. On a quarterly basis, the company’s revenue declined from ₹ 84.11 crore to ₹ 81.98 crore, but on the other hand the net profit of the company increased from ₹ 15.60 crore to ₹ 16.57 crore in the same period. Its revenue was ₹ 232.43 crore in FY 2024 and the profit was ₹ 34.22 crore.
The shares of Garden Reach Shipbuilders, Data Pattern, Cochin Shipyard, Majhgaon Dock Shipbuilders, Hindustan Aeronautics increased from 5 percent to 8 percent today. Garden Reach Shipbuilders’ stock was the third best performing share in the Nifty 500 index, with a 6.5 percent increase. Data pattern shares increased by 5.5 percent. Shares of Majgaon Dock, Cochin Shipyard and India Electronics are also trading with a gain of 4 per cent to 5 per cent today.
What is the reason?
The increasing tension between India and Pakistan has created a lot of fear in the markets. Harshit Kapadia has made a statement about the increase in defense stock. Harshit Kapadia, vice-president of Elara Securities, said, “Defense stocks are seeing a good rise in the second consecutive session due to increasing tension between India and Pakistan. Order of products such as explosives, weapons and ammunition, bullet proof jackets, drones and counter drone systems is likely to increase. But some goods can also be imported.”
