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India Implements Retaliatory Measures as Defence Stocks Surge Following Pahalgam Attack

Diplomatic actions against Pakistan intensify while defence equities see record gains, bolstered by speculation of a major Rafale Marine jet deal.

Defence stocks rally up to 10% as Indo-Pak tensions rise. Should you buy?
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Overview

  • India has blamed Pakistan-based militants for the April 22 Pahalgam attack that killed 26 people, including 25 tourists.
  • Retaliatory measures include suspending the Indus Waters Treaty, expelling Pakistani military advisors, and closing the Attari border post.
  • Defence Minister Rajnath Singh briefed Prime Minister Narendra Modi on enhanced security preparedness in a high-level meeting.
  • The Nifty Defence index posted its largest intraday gain since mid-April, with stocks like Paras Defence and GRSE rising as much as 12%.
  • Investor sentiment is buoyed by reports of a potential Rs 63,000-crore Rafale Marine jet deal with France to strengthen India's naval capabilities.