Defence stocks: HAL, Bharat Electronics, Data Patterns, Solar Industries shares rise up to 6%; here's why

Shares of defence firms such as HAL, Bharat Electronics, Data Patterns, Bharat Dynamics, Solar Industries and Paras Defence rose up to 6% on Thursday on expectations of a defence deal during the ongoing visit PM Narendra Modi to Israel. Israel is among the leading arms exporters to India. India has been Israel’s largest defence purchaser for years, including 34% of total sales from 2020-2024, according to the Stockholm International Peace Research Institute (SIPRI).

According to reports, both countries are likely to ink defence deals worth $8 billion-$10 bn.

Meanwhile, shares of Data Patterns ended 5.62% higher at Rs 172.70 today.  HAL shares gained 0.86% to Rs 4019 intra day. Later, the stock closed 0.60% higher on BSE. 

Bharat Dynamics stock too closed 2.66% higher at Rs 1273.80 in the current session. 

Bharat Electronics shares ended 2.21% higher at Rs 449 and Solar Industries stock ended 2.15% higher at Rs 13749. 

Paras Defence shares rose 1.81% intra day to Rs 643.40 and later ended 0.97% higher at Rs 637.45. 

Buoyed by the prospects of the defence deal, the Nifty India defence index ended 1.48% higher at Rs 8213.65. 

Both nations are likely to ink MoUs on technological transfer for Iron Dome, Iron Beam and advanced missiles. Iron Dome is a short-range missile defence system made by two Israeli firms—Rafael Advanced Defence Systems and Israel Aerospace Industries—with significant funding and technology sharing from the United States.