There is a rise in the shares of defense companies even today on Friday. Shares of defense companies rose by 9 percent. The corporate announcements behind this are being considered. Let us tell you, heavy selling has been seen in the stock market today. But after this, a jump of more than 1 percent was recorded in the Nifty Defense Index. The ‘owner’ of this cement company is selling 7500000 shares, the price jumped by 10%.
Shares of which companies are rising?
Shares of MTAR Technology, Mazagon Dock Shipbuilders, Garden Reach Shipbuilders and Engineers, Cochin Shipyard, Bharat Dynamics and Dynamics Technology have seen a rise of 2 percent to 9 percent on Friday. Apart from these, a jump of one percent has been recorded in the shares of Paras Defense and Space Technology, Bharat Electronics, BEL, Hindustan Aeronautics and BEML.
What is the reason behind the rise in shares of defense companies?
Shares of MTAR Technology reached 52 week high of Rs 2742 on BSE after rising 9 percent. The market is expecting better performance from this defense company in the second half. In the last one week, the share prices of this company have increased by 15.50 percent. At the same time, the price of the company’s shares has increased by 94 percent in 4 months. BEL had received an order worth Rs 586 crore on Thursday. The company has received a new order for drone detection and jamming systems. Its impact is clearly visible on the company’s shares.
According to media reports, contracts for 6 submarines can be signed in March 2026. The value of this work order is Rs 72000 crore. The role of MDL will be very important in this work order. Let us tell you, Astra Microwave Products also got work worth Rs 275.27 crore yesterday.