Defense stocks gain ahead of FDI policy for defense

Shares of Defense Equipment and Manufacturers zoomed after media reports said that the government is likely to hike foreign direct investment in the defense sector from 26% to 100%.

Shares of Astra Microwave Products surged 19.9% to Rs 111.6 on the BSE. The stock opened at Rs 103, touched a high of Rs 111.6 and a low of Rs 98.6 on the BSE. Over 14,056,042 shares were traded on both the stock exchanges so far.

Shares of Walchandnagar Industries rose 9.9% to Rs 100.9 on the BSE. The stock opened at Rs 98, touched a high of Rs 100.9 and a low of Rs 98 on the BSE. Over 1,486,424 shares were traded on both the stock exchanges so far.

Shares of BEML appreciated 6.8% to Rs 652 on the BSE. The stock opened at Rs 650, touched a high of Rs 677.5 and a low of Rs 645.5 on the BSE. Over 2,292,493 shares were traded on both the stock exchanges so far.

Shares of Dynamatic Technologies jumped 5% to Rs 995 on the BSE. The stock opened at Rs 980, touched a high of Rs 995 and a low of Rs 980 on the BSE. Over 151,021 shares were traded on both the stock exchanges so far.

Shares of Pipavav Defense and offshore engineering soared 4.9% to Rs 67.6 on the BSE. The stock opened at Rs 67, touched a high of Rs 67.6 and a low of Rs 66 on the BSE. Over 12,225,169 shares were traded on both the stock exchanges so far.