Paras Defence, Apollo Micro, BEML, BEL, GRSE: Defence stocks rise up to 5% today; here's why
Paras Defence climbed 2.46 per cent to Rs 1351.20. Apollo Micro Systems Ltd added 1.98 per cent, followed by MTAR Tech (1.96 per cent), Data Pattersn (1.91 per cent) and BEML (1.87 per cent).
- Sep 17, 2026,
- Updated Sep 17, 2026 11:13 AM IST
Defence stocks such as Axiscades Technologies, Paras Defence and Space Technologies Ltd, BEML Ltd, Micro Systems Ltd and Bharat Electronics Ltd (BEL) gained up to 5 per cent in Thursday's trade, while those of Data Patterns India Ltd, MTAR Technologies Ltd and Mishra Dhantu Nigam Ltd also advanced up to 2 per cent amid value buying and strong long-term growth prospects for the sector.
India’s defense spending is seen rising to $65-$91 billion in FY37, or 2.8-3.9 times the FY27 level, HSBC analysts including Pinakin Parekh wrote in a note this week, as they started coverage on the sector.
Axiscades Technologies Ltd, which offers technology and engineering solutions to aerospace and defence space, climbed 5.35 per cent to Rs 1,774.70 apiece.
Aequs Ltd, which has presence in the global aerospace and consumer manufacturing value chain, saw its shares rising 2.95 per cent to Rs 227.20. Paras Defence climbed 2.46 per cent to Rs 1351.20. Apollo Micro Systems Ltd added 1.98 per cent, followed by MTAR Tech (1.96 per cent), Data Pattersn (1.91 per cent) and BEML (1.87 per cent). Garden Reach (GRSE), Bharat Forge Ltd, Bharat Dynamics Ltd and Hindustan Aeronautics Ltd (HAL) also gained up to 1.3 per cent. Data showed Nifty India Defence index was up 0.8 per cent for the day, still 6.36 per cent lower for the one-month period.
Antique Stock broking a September 8 note said it remained constructive on the defence sector, supported by the expanding pipeline of acquisition programmes, increasing domestic sourcing and the government’s continued focus on strengthening indigenous defence capabilities.
It however felt faster conversion of AoNs into contracts remains critical for translating the sizeable procurement pipeline into sustained revenue and order-book growth. Its top picks included Mazagon Dock, HAL, BEL, and Astra Microwave.
360 ONE Capital in another note this month said growth in the defence budget, particularly in capital outlay, augurs well for the broader defence & aerospace ecosystem.
Defence capex (BE FY27) stands at Rs 2,19,300 crore, implying a 22 per cent increase over Rs 1,80,000 crore (BE FY26) and an 18 per cent increase over Rs 1,86,500 crore (RE FY26).
"Notably, capital outlay now constitutes 27.9 per cent of the overall defence budget (BE FY27: Rs 7,84,700 crore), the highest share since FY15, reflecting a clear policy thrust toward modernisation and asset creation," it said.
Defence stocks such as Axiscades Technologies, Paras Defence and Space Technologies Ltd, BEML Ltd, Micro Systems Ltd and Bharat Electronics Ltd (BEL) gained up to 5 per cent in Thursday's trade, while those of Data Patterns India Ltd, MTAR Technologies Ltd and Mishra Dhantu Nigam Ltd also advanced up to 2 per cent amid value buying and strong long-term growth prospects for the sector.
India’s defense spending is seen rising to $65-$91 billion in FY37, or 2.8-3.9 times the FY27 level, HSBC analysts including Pinakin Parekh wrote in a note this week, as they started coverage on the sector.
Axiscades Technologies Ltd, which offers technology and engineering solutions to aerospace and defence space, climbed 5.35 per cent to Rs 1,774.70 apiece.
Aequs Ltd, which has presence in the global aerospace and consumer manufacturing value chain, saw its shares rising 2.95 per cent to Rs 227.20. Paras Defence climbed 2.46 per cent to Rs 1351.20. Apollo Micro Systems Ltd added 1.98 per cent, followed by MTAR Tech (1.96 per cent), Data Pattersn (1.91 per cent) and BEML (1.87 per cent). Garden Reach (GRSE), Bharat Forge Ltd, Bharat Dynamics Ltd and Hindustan Aeronautics Ltd (HAL) also gained up to 1.3 per cent. Data showed Nifty India Defence index was up 0.8 per cent for the day, still 6.36 per cent lower for the one-month period.
Antique Stock broking a September 8 note said it remained constructive on the defence sector, supported by the expanding pipeline of acquisition programmes, increasing domestic sourcing and the government’s continued focus on strengthening indigenous defence capabilities.
It however felt faster conversion of AoNs into contracts remains critical for translating the sizeable procurement pipeline into sustained revenue and order-book growth. Its top picks included Mazagon Dock, HAL, BEL, and Astra Microwave.
360 ONE Capital in another note this month said growth in the defence budget, particularly in capital outlay, augurs well for the broader defence & aerospace ecosystem.
Defence capex (BE FY27) stands at Rs 2,19,300 crore, implying a 22 per cent increase over Rs 1,80,000 crore (BE FY26) and an 18 per cent increase over Rs 1,86,500 crore (RE FY26).
"Notably, capital outlay now constitutes 27.9 per cent of the overall defence budget (BE FY27: Rs 7,84,700 crore), the highest share since FY15, reflecting a clear policy thrust toward modernisation and asset creation," it said.