BEL, Ideaforge shares jump up to 3% as DAC approves projects worth Rs 67,000 crore

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Defence sector stocks Bharat Electronics Ltd (BEL) and Ideaforge Technology jumped up to 3% on Wednesday following the Defence Ministry’s approval of capital acquisitions worth Rs 67,000 crore, aimed at boosting indigenous defence manufacturing.

The shares of Bharat Electronics Ltd (BEL) jumped 1.8% to Rs 393.45 on the BSE today, while those of Ideaforge Technology surged 2.8% to Rs 450.90.


The proposals, cleared by the Defence Acquisition Council (DAC) under the leadership of Defence Minister Rajnath Singh, include procurement of indigenous medium altitude long endurance (MALE) drones, autonomous surface vessels, mountain radars, and upgrades to infantry combat vehicles and air defence systems.

The move is set to significantly benefit several Indian defence companies involved in unmanned aerial vehicle (UAV) and advanced combat technology segments.


Key players such as Adani Defence, Solar Defence & Aerospace Ltd, and Hindustan Aeronautics Ltd (HAL) are expected to be among the frontrunners for these contracts. Analysts anticipate strong market interest in these stocks, driven by the scale and strategic importance of the procurement.

An official source stated that the proposed MALE drones are capable of carrying multiple payloads and weapons and can operate at extended ranges for long-endurance surveillance and combat missions. “They will significantly enhance round-the-clock surveillance and combat capability of the armed forces,” the official added.The DAC’s decision underscores India’s continued emphasis on self-reliance in defence manufacturing and opens up massive opportunities for private and public sector enterprises alike.With growing geopolitical concerns and demand for high-tech defence infrastructure, this procurement is expected to bolster not only national security but also the financial prospects of listed companies in the defence and aerospace segment.

Defence-linked counters may see increased activity on Wednesday following this update.

Also read: Jane Street guys are brilliant mathematicians, but we can have PhDs too: Sebi chief

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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