BIZ DESK
Defence stocks such as Hindustan Aeronautical Limited, Bharat Electronics, Bharat Dynamics, and Paras Defence are on rising trend, while shares of Cochin Shipyard were trading down in morning hours on Monday (September 18), three days after the defence ministry approved nine capital acquisition projects worth Rs 45,000 crore for the armed forces.
The defence ministry on Friday approved nine capital acquisition projects worth Rs 45,000 crore for the armed forces. BEL, meanwhile, has received an order of Rs 2,118.57 crore from Cochin Shipyard Limited for the supply of various equipment comprising sensors, weapon equipment, etc.
HAL
Hindustan Aeronautics Limited (HAL) shares made a good start in early morning deals on Monday, rising higher by 1.53 per cent, or Rs 1.53, at Rs 4,007.60, three days after after the Defence Acquisition Council (DAC) approved Acceptance of Necessity (AON) for the procurement of 12 Su-30MKI Aircraft.
HAL will be the key party in completing this order. Last week, the stock hit its 52-week high of Rs 4,180.
Bharat Electronics (BEL)
The stock of BEL was rising higher by 3.17 per cent, or Rs 4.30, at Rs 140.00, in the first trading session after the company received an order of Rs 2,118.57 crore from Cochin Shipyard Limited for the supply of various equipment comprising sensors, weapon equipment, etc.
As per the statement, BEL will also provide Cochin Shipyard fire control systems and communication equipment for six numbers of next-generation missile vessels (NGMV) and a class of anti-surface warfare corvettes for Indian Navy.
This project will have the participation of Indian electronics and associated industries, including MSMEs, which are sub vendors of BEL, the company said in its BSE filing on Friday.
Bharat Dynamics
The company seems to be cashing in on the upbeat mood in the defence stock segment as its shares jumped 1.95 per cent, or Rs 20.80, at Rs 1,084.85 each in the morning hours on Monday.
