The markets are trending higher today and defence stocks are one of the big movers in trade. While the Nifty 50 and the Sensex are up about half a percent each, the Nifty Defence Index has jumped 4% in trade today. The entire list of defence stocks have seen a strong upmove nacked by heavy volume.
Here is a look at the top movers in the defence sector –
Bharat Electronics
The share price of Bharat Electronics jumped over 3% to an intra-day high of Rs 398. This defence stock is also the top Nifty 50 gainer. It is also one of Motilal Oswal’s top picks in the defence sector along with Bharat Dynamics. The stocks are rallying on the back of the 15-year defence roadmap unveiled by the government.
Mazagon Dock
In today’s trading session, the share price of Mazagon Dock surged 4%. Mazagon Dock Shipbuilders has fixed September 19 as the record date for its dividend payout of Rs 2.71 per share.
Apollo Micro Systems
The share price of Apollo Micro Systems hit a record high of Rs 321.70, rallying 8% on heavy trading volumes. Over the past three days, the stock has gained 17% after its subsidiary, Apollo Strategic Technologies, signed an MoU with US-based Dynamic Engineering and Design.
The deal focuses on technology transfer, co-development, and licensed production of rocket motors for BM-21 Grad ER and Non-ER rockets. Full-scale production is targeted by mid-2026.
MTAR Technologies
MTAR Technologies has seen its stock climb 14% in three days after securing Rs 386 crore worth of orders in the clean energy fuel cells segment. The company anticipates further orders from this segment while continuing its operations across civil nuclear power, hydel, aerospace, and defence sectors.
Paras Defence
The share price of Paras Defence is also trading up today. This surge in the share price of the company comes after it has bagged a Rs 26.6 crore incremental order from Opto Electronics Factory (OLF). This is part of India Optel, an enterprise which works under the Ministry of Defence.