HAL, BEL and other defence stocks jump up to 5% on potential India-Israel defence deal
[hfe_template id='11223']
[ad_1]
Defence stocks rallied on Thursday amid reports of a potential defence agreement between India and Israel, as investors positioned for fresh orders and technology collaborations across missile defence and advanced weapons systems. Shares of Hindustan Aeronautics rose 0.3%, while Bharat Electronics gained 1.2%. Data Patterns (India) climbed 5%, Astra Microwave Products advanced 3%, and Bharat Dynamics added 2% in trade. The move follows a ToI report that Prime Minister Narendra Modi, who landed in Tel Aviv on Wednesday, is expected to oversee the signing of a defence memorandum of understanding aimed at deepening security ties between the two countries. The proposed cooperation is likely to focus on the transfer of advanced technologies rather than outright weapons sales. The report said the agreement could cover both defensive systems and collaboration on offensive capabilities, with Israeli firms remaining tight-lipped about specifics. T...