Shares of key Indian defence companies jumped up to 10 per cent on the National Stock Exchange (NSE) Friday, following the Defence Acquisition Council’s (DAC) approval of 10 major capital acquisition proposals worth Rs 1.05 lakh crore. The Nifty India Defence index rose as much as 1.46 per cent to an intraday high of 9,012.60. Top gainers included Paras Defence, Astra Microwave, Bharat Electronics Ltd (BEL), Bharat Dynamics Ltd (BDL), Mazagon Dock Shipbuilders Ltd (MDL), and Cochin Shipyard Ltd (CSL). 

DAC Clears Rs 1.05 Lakh Crore Indigenous Defence Contracts to Boost ‘Aatmanirbhar Bharat’

The Defence Acquisition Council, chaired by Defence Minister Rajnath Singh, gave the green light to 10 capital acquisition proposals on Thursday, all under the Buy (Indian – Indigenously Designed, Developed and Manufactured) category. The Rs 1.05 lakh crore approvals align with the government’s push for self-reliance in defence manufacturing.

Defence Stocks Rally After DAC Nod: Paras Defence, Astra Microwave, BEML, Mazagon Dock, Cochin Shipyard Lead Gains

Following the DAC announcement, key defence stocks recorded strong gains on the NSE. Paras Defence climbed nearly 10 per cent, Astra Microwave rose 4.79 per cent to Rs 1,109, and BEML gained 4.53 per cent to Rs 4,655. Mazagon Dock Shipbuilders Ltd and Cochin Shipyard Ltd also rallied 2.41 per cent and 2.90 per cent respectively.

Strategic Procurement for Indian Navy and Army: MCMVs, Surface-to-Air Missiles, and Electronic Warfare Systems

The Indian Navy will acquire Mine Counter Measure Vessels (MCMVs) and moored mines worth around Rs 44,000 crore, involving Mazagon Dock and Cochin Shipyard. The Indian Army’s procurement includes Quick Reaction Surface-to-Air Missiles and Electronic Warfare Systems from Bharat Electronics Ltd and Bharat Dynamics Ltd.