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The defence stocks have once again soared after the Defence Acquisition Council (DAC) granted powers to the defence forces to buy arms and ammunition of around Rs 40,000 crore.
The approval under emergency powers was recently approved by the DAC in its meeting attended by top defence ministry and military brass, reported ANI, citing defence officials.
The armed forces will buy equipment like surveillance drones, kamikaze drones, long-range loitering munitions and ammunition for artillery, air defence and missiles and rockets of different types under the emergency powers.
The share price of Premier Explosives surged the most, gaining 17.65% to Rs 580.65 on the National Stock Exchange. It was followed by Avantel, which surged 11.5% to Rs 136.30. The share price of Data Patterns rose as much as 9.5% to an intra-day high of Rs 3,141.70, but soon came off highs to trade 2.2% higher. The stock price of BEML advanced 5.3% to an intra-day high of Rs 3,850.
Zen Technologies’ share price was locked in the upper circuit, rising 5% higher at Rs 1,884.50. Also, the Zen Tech reported a jump of 189% year-on-year in the consolidated net profit to Rs 101.04 crore for Q4FY25, as against Rs 34.94 crore during the same quarter a year ago. The revenues from operations rose 130% YoY to Rs 324.97 crore, compared with Rs 141.38 crore in Q4FY24.
“The sector is seen as a promising long-term opportunity, backed by rising defence budgets, growing export interest, and sustained policy focus under the Make in India and Atmanirbhar Bharat initiatives,” said Siddharth Bhamre, Head of Research at Asit C Mehta Investment Intermediates.
The market capitalisation of 18 listed Indian defence companies has reached an all-time high of Rs 11.23 lakh crore, driven by strong investor confidence, rising geopolitical tensions, and government support for indigenous defence manufacturing, added Bhamre.
Nifty India Defence Index’s performance
The Nifty India Defence Index has given an absolute return of 16.4% in the last five trading sessions. It has surged more than 23% in the past month and over 50% since February 2025.
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