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.