BEL, Ideaforge shares jump up to 3% as DAC approves projects worth Rs 67,000 crore
[hfe_template id='11223']
[ad_1]
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 Aerona...