Shares of six defence equipment makers rose 0.66% to 10% at 12:25 IST on BSE, with the stocks extending upmove triggered by Defence Minister Manohar Parrikar's recent written statement in Rajya Sabha on clearance for defence proposals.
Pipavav Defence and Offshore Engineering Company (up 10%), Dynamatic Technologies (up 6.23%), Bharat Electronics (up 4.12%), BEML (up 1.5%), Astra Microwave Products (up 1.49%), and Walchandnagar Industries (up 0.66%) edged higher.
Meanwhile, the S&P BSE Sensex was down 17.02 points or 0.06% at 28,545.80.
Defence Minister Manohar Parrikar in a written statement to Rajya Sabha on 2 December 2014 said that a total of 41 proposals for an indicative cost of Rs 119719.53 crore have been cleared by the Defence Acquisition Council (DAC) since June 2014.
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