BDL, Zen Tech, BEL, MTAR, GRSE, HAL shares lead Nifty Defence gainers today; here's why
Bharat Dynamics Ltd (BDL) led the gainers rising 5.48 per cent to Rs 1,502. It was followed by Zen Technologies, Bharat Electronics (BEL), MTAR Tech and Unimech Aerospace, which climbed 4-5 per cent.
- Sep 10, 2025,
- Updated Sep 10, 2025 4:50 PM IST
Defence stocks were in focus on Wednesday as the Nifty Defence index rose 192.60 points, or 2.56 per cent, to close at 7,719.10. Barring two names, all index constituents ended higher. Gains came on hopes of a strong order pipeline, with analysts noting that sustained execution of large order books and disciplined working capital management will be key drivers for the sector.
Bharat Dynamics Ltd (BDL) led the gainers rising 5.48 per cent to Rs 1,502. It was followed by Zen Technologies, Bharat Electronics (BEL), MTAR Tech and Unimech Aerospace and Manufacturing Ltd, which climbed 4.99 per cent, 4.58 per cent, 4.37 per cent an 4.09 per cent, respectively.
Garden Reach (GRSE) gained 3.19 per cent to Rs 2,428, Paras Defence advanced 3.18 per cent to Rs 665, while Mazagon Dock also added 2.83 per cent to Rs 2,759.90. Astra Micro, Hindustan Aeronautics (HAL), Solar Industries, Cochin Shipyard and Mishra Dhatu Nigam Ltd (MIDHANI) gained 1-2.5 per cent. DCX Systems Ltd, BEML and Data Patterns also added up to 1 per cent.
While there was no fresh ordering activity from the Ministry of Defence (MoD) in August 2025, the Defence Acquisition Council (DAC) approved Acceptance of Necessity (AoN) for 10 procurement proposals worth Rs 67,000 crore. In addition, the Cabinet Committee on Security (CCS) cleared the acquisition of 97 Tejas Mk1A fighters and six Netra Mk2 aircraft from Hindustan Aeronautics Ltd (HAL) at a cost of Rs 62,000 crore.
ICICI Securities, in its latest defence sector report, highlighted strong potential order inflows across companies under its coverage. It estimates inflows of about Rs 1,300 crore for Astra Microwave, Rs 27,000 crore for Bharat Electronics (excluding QRSAM), and over Rs 1 lakh crore for HAL, which includes Su-30 upgrades, Tejas Mk2, and RoH orders.
For other players, the brokerage sees potential orders worth Rs 5,000 crore for Bharat Dynamics (BDL), Rs 800 crore for Zen Technologies in H1FY26, and Rs 1,200 crore for Mishra Dhatu Nigam Ltd (MIDHANI).
Among PSU defence stocks, ICICI Securities has a ‘Buy’ rating on HAL with a target price of Rs 5,800. In the private space, it prefers Astra Microwave (target price: Rs 1,190), Azad Engineering (Rs 1,882), and Solar Industries (Rs 17,200).
Overall, the brokerage maintains ‘Buy’ ratings on six defence stocks, ‘Add’ on two (BDL and BEL), ‘Hold’ on Zen Technologies, and ‘Reduce’ on Dynamatic Technologies.
Defence stocks were in focus on Wednesday as the Nifty Defence index rose 192.60 points, or 2.56 per cent, to close at 7,719.10. Barring two names, all index constituents ended higher. Gains came on hopes of a strong order pipeline, with analysts noting that sustained execution of large order books and disciplined working capital management will be key drivers for the sector.
Bharat Dynamics Ltd (BDL) led the gainers rising 5.48 per cent to Rs 1,502. It was followed by Zen Technologies, Bharat Electronics (BEL), MTAR Tech and Unimech Aerospace and Manufacturing Ltd, which climbed 4.99 per cent, 4.58 per cent, 4.37 per cent an 4.09 per cent, respectively.
Garden Reach (GRSE) gained 3.19 per cent to Rs 2,428, Paras Defence advanced 3.18 per cent to Rs 665, while Mazagon Dock also added 2.83 per cent to Rs 2,759.90. Astra Micro, Hindustan Aeronautics (HAL), Solar Industries, Cochin Shipyard and Mishra Dhatu Nigam Ltd (MIDHANI) gained 1-2.5 per cent. DCX Systems Ltd, BEML and Data Patterns also added up to 1 per cent.
While there was no fresh ordering activity from the Ministry of Defence (MoD) in August 2025, the Defence Acquisition Council (DAC) approved Acceptance of Necessity (AoN) for 10 procurement proposals worth Rs 67,000 crore. In addition, the Cabinet Committee on Security (CCS) cleared the acquisition of 97 Tejas Mk1A fighters and six Netra Mk2 aircraft from Hindustan Aeronautics Ltd (HAL) at a cost of Rs 62,000 crore.
ICICI Securities, in its latest defence sector report, highlighted strong potential order inflows across companies under its coverage. It estimates inflows of about Rs 1,300 crore for Astra Microwave, Rs 27,000 crore for Bharat Electronics (excluding QRSAM), and over Rs 1 lakh crore for HAL, which includes Su-30 upgrades, Tejas Mk2, and RoH orders.
For other players, the brokerage sees potential orders worth Rs 5,000 crore for Bharat Dynamics (BDL), Rs 800 crore for Zen Technologies in H1FY26, and Rs 1,200 crore for Mishra Dhatu Nigam Ltd (MIDHANI).
Among PSU defence stocks, ICICI Securities has a ‘Buy’ rating on HAL with a target price of Rs 5,800. In the private space, it prefers Astra Microwave (target price: Rs 1,190), Azad Engineering (Rs 1,882), and Solar Industries (Rs 17,200).
Overall, the brokerage maintains ‘Buy’ ratings on six defence stocks, ‘Add’ on two (BDL and BEL), ‘Hold’ on Zen Technologies, and ‘Reduce’ on Dynamatic Technologies.