Ideaforge, HAL, and other defence stocks rally up to 8% as war bets heat up after Israel bombs Iran
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Shares of domestic defence stocks like Ideaforge and Hindustan Aeronautics Ltd (HAL) rallied up to 8% on Friday after Israel launched a series of military strikes on Iran, reigniting fears of a broader conflict and driving investor interest in defence-linked companies. Shares of Ideaforge Technology jumped as much as 8.1% on the BSE to Rs 599.60, leading gains among Indian defence stocks. Astra Microwave Products rose up to 4% to Rs 1,175, Bharat Dynamics advanced 2.9% to Rs 1,925, and Hindustan Aeronautics Ltd (HAL) climbed 1.9% to Rs 5,049.50. The rally came after Israel carried out strikes on Iran, targeting nuclear facilities, ballistic missile production sites, and military commanders. Iranian state media confirmed that elite Revolutionary Guards commander Hossein Salami was killed, and explosions were reported near the country’s main uranium enrichment site at Natanz. “Israel said it was declaring a state of emergency in anticipatio...