 "Bharat Dynamics, HAL, GRSE spike up to 5% amid Indo-Pak border tensions")
Defence stocks: Defence-related stocks gained up to 4.8 per cent in trade on Friday, May 9, 2025, amid escalating border tension between India and Pakistan. On Thursday, Pakistan fired eight missiles directed at Satwari, Samba, RS Pura, and Arnia, all in Jammu & Kashmir, which were all intercepted or neutralised by air defence units, according to reports.
At 10:20 AM, individually, shares of Bharat Dynamics were up 3.31 per cent, Hindustan Aeronautics (HAL) were up 2.34 per cent, Paras Defence and Space Technologies were up 2.08 per cent, Bharat Electronics were up 3.41 per cent, Mazagon Dock Shipbuilders were up 1.56 per cent, Astra Microwave Products were up 3.21 per cent, Garden Reach Shipbuilders & Engineers were up 2.2 per cent, and Cochin Shipyard were up 0.12 per cent.
Analysts believe 'Operation Sindoor' is likely to put the focus on the pace of execution in the defence companies.
"Defence companies already have large order books which will get even larger," said Dr. Vikas Gupta, CEO & chief investment strategist, OmniScience Capital.
He added: These companies are likely to be given aggressive execution targets which are likely to start becoming visible in a few quarters and a 1-3 years timeline, thus possibly boosting revenues and earnings forecast. However one should be careful to invest only at attractive valuations and in those which pass the scientific investing criteria”.
Operation Sindoor updates
- Pakistan fired eight missiles directed at Satwari, Samba, RS Pura and Arnia, all in Jammu & Kashmir, which were all neutralised by air defence units. Indian security forces also detected Pakistani drones and munitions over Jammu city, Pathankot, and Jaisalmer.
- Armed forces targeted air defence radars and systems at multiple locations within Pakistan, neutralising at least one such system in Lahore. This was after thwarting Pakistan’s bid to strike several military targets in northern and western India, including Srinagar, Amritsar, and Chandigarh, using drones and missiles.
- According to ANI report, Jammu & Kashmir Chief Minister Omar Abdullah is heading to Jammu to take stock of the situation after last night’s failed Pakistani drone attack directed at Jammu city and other parts of the division. Track LIVE updates
What is Operation Sindoor?
Operation Sindoor was launched by India against Pakistan to limit its capacity to sponsor cross-border terrorism. In this operation, the Indian armed forces successfully destroyed nine terror centres operating in Pakistan and Pakistan-occupied Kashmir (PoK). This was India’s precise response to the Pahalgam terror attack that killed 26 individuals. Reports suggest that the title of the operation was chosen by Prime Minister Narendra Modi.