IdeaForge, Zen, Data Patterns, HAL, BDL, BEL gain up to 8%; Paras Defence down 5%

Defence stocks, led by drone makers, led gainers in Monday's trade after a day of peace at the border following India-Pakistan ceasefire. The market remained optimistic over a likely increased defence spending going ahead.

Ideaforge Technology Ltd climbed 6.44 per cent to 493.05.  ZEN Technologies Ltd surged 5 per cent to Rs 1,476.65 on BSE. Droneacharya Aerial Innovations Ltd advanced 5 per cent to Rs 71.53. Data Patterns (India) Ltd climbed 4.14 per cent to Rs 2,390.50.

Paras Defence and Space Technologies Ltd, which led the defence rally recently, fell 4.9 per cent to Rs 1,387. Paras Defence is among securities which has been moving out of short-term ASM framework from today.

Bharat Forge Ltd was up 1.36 per cent at Rs 1,181.90. The Modi government had reportedly asked defence makers for a meeting in Delhi this week, CMD at Bharat Forge Baba Kalyani hinted at in an interview on CNBC TV18 last week.

"One cannot rule out further escalation or a longdrawn conflict. Past data suggests that the Indian equity markets have not been negatively impacted significantly during such conflicts, but the Indian economy has been adversely affected. However, the Indian economy now is far larger and more resilient than what it was during previous conflicts," JM Financial said.

In the Union Budget 2025, the allocation for 2025-26 defence outlay has been estimated at 1.91 per cent of the projected GDP in FY26E. For procuring new weapon systems, aircraft and warship, there is a Rs 1.8 lakh crore capital outlay for defence services, an increase of 4.7 per cent in FY25BE and 12.9 per cent over FY25RE.

The Ministry of defence (MoD) has earmarked 75 per cent of its new capital procurement budget of Rs 1.5 lakh crore for procurement from the domestic industry, with a 25 per cent domestic share being reserved for the Indian private sector.

Bharat Dynamics Ltd edged 0.25 per cent higher at Rs 1,535.05. Bharat Electronics Ltd added 0.71 per cent to Rs 318. BEML Ltd advanced 3.71 per cent to Rs 3,172.05.