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Nifty India Defence Index Nears All-Time High on Policy Push and Major Export Deal

Operation Sindoor is underpinning defence stocks alongside robust profit growth in the March quarter

Defence stocks in focus after PM Modi's address to India.  | Image: Meta AI

Overview

  • The Nifty India Defence Index climbed to 8,713, marking an over 8% gain in the past week and nearly 31% surge in the last month.
  • Nibe Ltd secured an Rs 150.62 crore export order to supply universal rocket launchers to an Israel-based client, sending its shares to the upper trading circuit.
  • Public-sector defence firms including Mishra Dhatu Nigam, Garden Reach Shipbuilders and Cochin Shipyard each delivered intraday gains exceeding 3%.
  • Companies in the sector reported strong March-quarter profits and maintain robust order pipelines with expectations of further domestic and global contracts.
  • Andhra Pradesh’s chief minister has proposed turning the state into an aerospace and defence manufacturing hub to defence minister Rajnath Singh.