Shares of major Indian defence manufacturers surged in early Monday trade following reports of a significant expansion in government procurement plans.
Hindustan Aeronautics Ltd (HAL) and Bharat Electronics Ltd (BEL) were among the top performers, with both stocks climbing approximately 4% as buying interest swept through the sector.
The market move was triggered by reports that the Indian government is advancing a ₹52,000 crore ($6.
Zen Technologies also emerged as a notable gainer, rising more than 4%, while peers including Paras Defence and Space Technologies, Bharat Dynamics, Data Patterns (India), and Solar Industries saw similar upward pressure.
The market move was triggered by reports that the Indian government is advancing a ₹52,000 crore ($6.2 billion) procurement package aimed at modernising military capabilities.
Livemint identified the spending boost as the primary catalyst for the session's early strength, noting that the funds are expected to flow directly to domestic prime contractors and their supply chains.
The announcement reinforces the government's strategic pivot toward self-reliance in defence manufacturing, reducing dependence on foreign imports.