Defence stocks in green despite weak sentiment: Paras Defence, BDL, Zen Tech top gainers; here’s why

Most of the defence stocks were trading in green despite a weak market sentiment on Friday, June 19. The Nifty India Defence gained 1% to an intraday high of 9,620.05 level.

As many as 13 out of 19 stocks on the index gained, with Paras Defence being the top contributor, rising 7.3%. Bharat Dynamics (3.28%), Zen Technologies (3.14%), Astra Microwave (2.4%), Data Patterns (2.3%) and Mishra Dhatu Nigam (1.84%) were also among top gainers on the Nifty India Defence index.

Meanwhile, BEML (-2.24%), Axiscades Technologies (-0.39%), Cochin Shipyard (-0.27%), Bharat Electronics (-0.26%), Dynamatic Technologies (-0.23%) and Mazagon Dock (-0.2%) were the laggards.

During the week, the Nifty India Defence sector rose 7%, while for three-month periods, it has surged 23.5%. On a year-on-year basis, the index has climbed 10.3%.

The rally in defence stocks on Friday came as media reports suggested that India is close to completing deal with Vietnam for the sale of BrahMos supersonic cruise missiles.

BrahMos Aerospace chief Jaiteerth Joshi, in an event, said only a few clearances remain before the deal is finalised. He also added that discussions are underway with several other countries for potential exports.

Other updates from this week

India’s defence production

India's defence production touched an all-time high of ₹1.78 lakh crore in 2025-26, registering a growth of 15.6% over the previous fiscal, Defence Minister Rajnath Singh said on Wednesday.

In a post on X, Singh said the country's annual defence production rose to ₹1.78 lakh crore in FY26 from ₹1.54 lakh crore in 2024-25. “This milestone represents an impressive 15.6% growth over the previous fiscal year's output of ₹1.54 lakh crore and a staggering 110% increase since FY 2020-21, when the figure stood at ₹84,643 crore,” he added.

The defence minister credited the growth to the government's push for self-reliance in the sector and increased participation of domestic industry. "Under the inspiring leadership of PM Shri Narendra Modi, India's defence production is reaching new heights every year," Singh said.

According to the minister, indigenous defence production has increased nearly fourfold from ₹43,746 crore in 2013-14.

Reports of bids for ₹30,000 crore drone procurement programme

According to reports, the Defence Ministry received around 10 bids from Indian public and private sector firms for its over ₹30,000 crore project to procure 87 Medium-Altitude Long-Endurance (MALE) Unmanned Aerial Vehicles (UAVs) for the Indian Air Force.

Medium-Altitude Long-Endurance (MALE) Unmanned Aerial Vehicles (UAVs) are a type of military drone. MALE drones, as per available reports, are designed to operate at medium altitudes, typically between 10,000 and 30,000 feet, and can remain airborne for long durations—often more than 24 hours.

They are primarily used for intelligence, surveillance, reconnaissance (ISR), target tracking, border monitoring, and, in some cases, precision strikes.

According to a report by news agency ANI, which quoted defence officials, the firms that have participated in the project include Hindustan Aeronautics Limited, Solar Defence and Aerospace Limited, Adani Defence Systems Limited, Tata Advanced Systems Limited, Larsen and Toubro, and Raphe mPhibr Ltd.