Defence stocks see $5 billion rally as border tensions escalate

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Indian defense firms have added more than $5 billion in market valuation since tensions escalated between the country and neighboring Pakistan following a brutal attack on tourists in Kashmir two weeks ago.

A custom gauge of 10 Indian defense companies has gained about 5% in market value terms since the April 22 militant attack, amid expectations that these firms stand to benefit from the worsening geopolitical situation. The index includes state-run aircraft maker Hindustan Aeronautics Ltd. and missile firm Solar Industries India Ltd.


Indian Defense Stocks chartBloomberg

Earlier Wednesday, India conducted targeted military strikes against Pakistan in a move seen as its retaliation of the Kashmir attack that killed 26 people. Pakistan said it shot down five Indian jets.Shares of defense companies were mostly higher in early trading Wednesday, with Mazagon Dock Shipbuilders Ltd. gaining as much as 4.6%, while Hindustan Aeronautics rose nearly 2%.

Two Sharp with ET: Inside India–UK Free Trade Agreement, Why Sensex didn’t flinch after Op Sindoor

India–UK Free Trade Deal: After 14 rounds of negotiations, India and the UK have signed a landmark FTA. From zero-duty exports for apparel and leather to quota-based UK entries for premium cars and whisky, this deal is projected to double trade to $120 billion by 2030. Indian workers also win with social security relief in the UK. Markets Hold Strong Amid Strikes: Despite India’s precision strikes under Operation Sindoor, the Sensex and Nifty closed in the green. Auto and textile stocks surged on FTA optimism. Paytm rallied after narrowing Q4 losses, while defence stocks cooled after early gains. Catch the sharpest insights with Nisha Poddar.


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