Data Patterns, HAL, BEL, Bharat Dynamics: Defence stocks rally up to 4% as PM announces Mission Sudarshan Chakra

The Nifty India Defence index was trading 0.83% higher at 7,869.75 levels. Dynamatic Technologies was trading 3.53% higher at 6,670.50 levels. Data Patterns (India) Ltd was trading at 2,589.40, up 2.86%.

Garden Reach Shipbuilders & Engineers Ltd (GRSE) stock was trading 2.53% higher at ₹2,653.30. Hindustan Aeronautics was trading 0.21% higher at ₹4,564. Bharat Dynamics Ltd was trading 2.29% higher at ₹1,614 on the NSE. Bharat Electronics was trading 0.42% higher at ₹386.50.

The announced project will be aimed at protecting India's vital military and civilian installations and delivering a decisive response to any enemy threat, a move that came amid concerns over security challenges emanating from Pakistan and China.

In his Independence Day address from the ramparts of the Red Fort in New Delhi, PM Modi also hinted at New Delhi's resolve to reduce dependence on foreign technologies for military platforms as he called for the development of jet engines within the country for India's fighter aircraft.

"Sudarshan Chakra", experts said, could be on the lines of Israel's Iron Dome all-weather air-defence system, known as a very effective missile shield, said the PTI report.

The announcement on the new defence system came days after Pakistan Army Chief Field Marshal Asim Munir reportedly hinted at targeting Indian assets along the border, including Reliance Industries Limited's Jamnagar refinery in Gujarat, in case of any future military confrontation between the two neighbouring countries.

Announcing the launch of "Mission Sudarshan Chakra", Modi said it will be aimed at neutralising enemy threats and enhancing India's offensive capabilities.

The prime minister linked the mission to Krishna's Sudarshan Chakra, highlighting how India draws inspiration from its rich cultural and mythological heritage to guide modern defence innovations.

The mission underscores India's commitment to strategic autonomy, ensuring rapid, precise and powerful responses to any threat, he said.

The prime minister urged Indian innovators and youngsters to develop jet engines within the country, ensuring that future defence technology is entirely homegrown and self-reliant.

The prime minister's emphasis on developing an indigenous jet engine also assumes significance, as it came amid some hitch in sealing a deal between Hindustan Aeronautics Limited (HAL) and US defence major GE Aerospace to jointly produce a jet engine to power the next generation of India's combat aircraft.

GE Aerospace has also missed deadlines in supplying its jet engines to HAL, which subsequently caused delays in the Indian aerospace company's delivery of Tejas combat jets to the Indian Air Force.

PM Modi said that just like how India made vaccines during COVID and UPI for digital payments, "we should build our own jet engines too" and urged Indian scientists and youth to take it up as a direct challenge.