BDL, BEL, HAL, other defence stocks soar up to 11% after PM Modi calls for 'Made in India' defence...

Defence stocks surged on the market today, following Prime Minister Narendra Modi's renewed push for 'Made in India' defense initiatives. Bharat Dynamics Limited (BDL) led the charge, with its shares rocketing by 11.5% to close at Rs 1,750, marking the most significant gain of the day. This upswing reflects investor optimism spurred by the government's focus on bolstering domestic defense manufacturing capabilities. Other major players in the defense sector, including Bharat Electronics Limited (BEL) and Hindustan Aeronautics Limited (HAL), also experienced substantial gains. BEL saw a rise of 6.8%, while HAL shares increased by 5.2%. The Prime Minister's call for enhanced indigenous production is part of a broader strategy to reduce dependency on foreign imports and strengthen national security through self-reliance. Market analysts suggest that this rally is not just a short-term response but a potential long-term trend, as the government continues to invest in local defense infrastructure. With increasing global tensions and the need for advanced military technology, companies like BDL, BEL, and HAL are likely to see sustained growth. The 'Made in India' initiative is expected to create significant opportunities for innovation and development within the defense sector.

— Authored by Next24 Live