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Defence Stocks: India-Pakistan escalating tensions are leading to a sharp rally in defence stocks in recent times.
India’s armoured corps has nearly 4201 tanks, while Pakistan has 2, 627 tanks. Furthermore, India has 148,594 armoured vehicles as compared to Pakistan’s 17,516. (File Pic)
Defence Stocks: Bharat Dynamics, Paras Defence, Zentec, Astra Micro, DCX India among defence stocks rallied up to 6 per cent intraday on Friday. Nifty defence jumped 2.44 per cent on Friday during intraday to trade at 7,047.35 at the time of writing this report. The sharp spike came amid the heightened tensions between India-Pakistan after India launched ‘Operation Sindoor’ targeting terrorist infrastructure in Pakistan and Pakistan-occupied Kashmir. It was a retaliatory measures against the terrorist attacks on Indian tourists in Pahalgam, Kashmir in which 26 lives were lost.
All the defence stocks including HAL, GRSE, Mazdock Shipbuilders in Nifty defence were trading in green.
On Thursday, defence stocks also experienced major a sharp rally. GRSE, Paras, Mazdock, Data Patterns among some defence stocks rallied up to 6 per cent, reflecting a strong interest among investors amid India-Pakistan war-like situation.
Defence companies are major suppliers of ammunitions, aircrafts, tanks and other armed weapons.
According to report by ET, 10 defence companies have gained about 5 per cent market value since 22 militant attack on tourists in Pahalgam, with the anticipation that these firms will get the benefit from escalating tensions between India and Pakistan.
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