Defence Stocks Surge As Cabinet Committee Clears "₹80,000Cr Defence Deals

The likes of Hindustan Aeronautics Defense, Bharat Dynamics and Bharat Electronics gained up to 4% in the morning on October 10.

Other companies like Taneja Aerospace and Aviation Ltd, Paras Defence and Space Technologies, High Energy Batteries, IdeaForge Technologies, Mazagon Dock, Cochin Shipyard and more were trading with gains of up to 3% before correcting a bit in the afternoon.

The surge comes after defence deals worth Rs 80,000 crore (bubble))for Predator drones and 2 nuclear submarines were approved by Prime Minister Narendra Modi-chained Cabinet Committee on Security (CCS) on Wednesday.

The CCS has cleared the deal for buying 31 Predator drones from the USA.

#defence #india #indianrmy #navy #airforce #army #usa #israel #russia #china #iran



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