Defence stocks rally as MoD puts 108 items on import ban list; BEL up 6 %

The MoD, on Monday, announced a list of 108 items of defence equipment that must be compulsorily procured from indigenous sources according to provisions in the Defence Acquisition Procedure 2020

Shares of defence equipment manufacturers ruled at the bourses on Tuesday, a day after the Ministry of Defence (MoD) announced a "Positive Indigenisation List" of 108 items of defence equipment that must be compulsorily procured from indigenous sources. 

Individually, Bharat Electronics jumped 5.6 per cent on the BSE, followed by Hindustan Aeronautics and Garden Reach Shipbuilders that soared 5 per cent each. Bharat Dynamics, Astra Microwave Products, BEML, Bharat Forge, Mishra Dhatu Nigam, and Mazagon Dock Shipbuilders advanced between 1 per cent and 4.4 per cent. In comparison, the benchmark S&P BSE Sensex was quoting at 52,095 levels, up 0.3