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HAL, Solar Industries shares rally after PM Modi's defence push; Nifty India Defence up 1%
4 min read | Updated on August 17, 2026, 10:22 IST
SUMMARY
PM Modi pitched for making India a global hub for defence manufacturing, placing special emphasis on self-reliance in advanced capabilities such as hypersonic technology and drone systems.
Stock list
The defence exports reached ₹38,424 crore in the financial year 2025-26. Image: Shutterstock
Shares of most defence stocks were trading in the green in the early trade on Monday, August 17, after Prime Minister Narendra Modi announced an overhaul of civil defence in his Independence Day address.
The prime minister on Saturday, August 15, announced plans to modernise the civil defence volunteer force, saying a system developed in response to conventional wars fought in the past was no longer adequate when attacks could target refineries, banks, data centres and other critical infrastructure inside the country.
Addressing the nation from the ramparts of the Red Fort on the 80th Independence Day, PM said the changing nature of warfare required India to strengthen not only its armed forces but also civilian preparedness against new-age threats.
Key points
PM Modi pitched for making India a global hub for defence manufacturing, placing special emphasis on self-reliance in advanced capabilities such as hypersonic technology and drone systems.
In his address, PM Modi said expanding domestic production is critical to boosting India's strategic strength.
"We have to become a global supplier by leveraging next-generation defence technology," the PM said.
The prime minister underlined the importance of India achieving expertise in the production of drones, counter-drone systems, and hypersonic technologies.
PM Modi also mentioned the country's rising volume of defence production.
In the last few years, the government has rolled out a series of policy initiatives to boost domestic defence manufacturing.
The volume of India's domestic defence production was recorded at ₹1.78 lakh crore in the financial year 2025-26 as against ₹46,000 crore in 2014, according to the latest government data.
The defence exports reached ₹38,424 crore in the financial year 2025-26.
Defence Minister Rajnath Singh on Friday said that military projects worth over ₹8.75 lakh crore have been approved in the last year as the Modi government is committed to modernising the armed forces.
How stocks are faring
The NIFTY INDIA DEFENCE index gained up to 1%. At 9:40 AM, the index traded at 9,877.75 levels, up 0.72%, with 12 stocks advancing and 7 declining.
Among constituents, HAL was the top gainer - up 1.79%, followed by Solar Industries (up 0.8%). Next on the gainers' list were BEL, up 0.2%, and Mazagon Dock Shipbuilders, up 0.5% at ₹2,593.20.
Data Patterns (India) shares were up 1.74% at ₹4,533.40 on the NSE.
| Symbol | Open | High | Low | Close | LTP | Change | % Change |
|---|---|---|---|---|---|---|---|
| NIFTY INDIA DEFENCE | 9,820.85 | 9,906.20 | 9,817.15 | 9,811.75 | 9,893.40 | +81.65 | +0.83% |
| HAL | 5,050.00 | 5,149.90 | 5,045.00 | 5,029.90 | 5,109.90 | +80.00 | +1.59% |
| BDL | 1,413.20 | 1,427.70 | 1,378.60 | 1,398.00 | 1,394.20 | −3.80 | −0.27% |
| COCHINSHIP | 1,450.00 | 1,494.70 | 1,435.00 | 1,496.50 | 1,474.00 | −22.50 | −1.50% |
| SOLARINDS | 19,951.00 | 20,389.00 | 19,951.00 | 19,969.00 | 20,139.00 | +170.00 | +0.85% |
| MAZDOCK | 2,594.90 | 2,619.50 | 2,583.00 | 2,580.00 | 2,595.90 | +15.90 | +0.62% |
| MAZDOCK | 2,594.90 | 2,619.50 | 2,583.00 | 2,580.00 | 2,592.00 | +12.00 | +0.47% |
| BEL | 411.00 | 413.15 | 409.10 | 410.80 | 412.00 | +1.20 | +0.29% |
| DATAPATTNS | 4,469.00 | 4,546.40 | 4,460.60 | 4,455.80 | 4,534.80 | +79.00 | +1.77% |
| PARAS | 1,383.50 | 1,387.00 | 1,346.00 | 1,377.50 | 1,363.40 | −14.10 | −1.02% |
| APOLLO | 393.80 | 397.90 | 390.45 | 393.55 | 394.95 | +1.40 | +0.36% |
| BHARATFORG | 2,057.80 | 2,089.50 | 2,055.60 | 2,065.00 | 2,085.90 | +20.90 | +1.01% |
| ZENTEC | 1,873.00 | 1,896.60 | 1,863.20 | 1,857.20 | 1,893.80 | +36.60 | +1.97% |
| MIDHANI | 418.45 | 429.70 | 413.05 | 416.70 | 428.95 | +12.25 | +2.94% |
| GRSE | 2,622.00 | 2,650.00 | 2,607.50 | 2,618.60 | 2,620.30 | +1.70 | +0.06% |
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