ALSO READHigher defence spending revs Q4 show of BEML, BEL Bharat Electronics surges 6% to hit record high BHEL, Bharat Forge and two others announce bonus shares today Maharashtra unveils policy to draw $5 bn defence investments Made in India arms: Pvt players eye long-term contracts under new policy
Defence stocks gained on Thursday on heavy volumes amid volatility ahead of August F&O expiry.
Reliance Defence and Engineering rose over 7% to Rs 58.70 in a other-wise flat market after it witnessed a spurt in volume by more than 2.58 times. The stock hit a high and low of Rs 58.7 and Rs 55 respectively till now.
Astra Microwave Products and Walchandnagar Industries were also trading up by over 5% and 3% respectively on heavy volumes. Astra Microwave Products opened at Rs 146.80 per share and attracted total traded volume of 3,63,325 shares and traded value of Rs 476.57 lakh on NSE at 12:54 pm
Among other stocks BEML gained 1%, Bharat Electronics advanced 0.7% while Bharat Forge declined nearly 1% and L&T fell 0.4%.