Astra Microwave secured an order worth ₹2,205.20 crore from HAL for procuring 122 AAAU and 121 Interface Frames for the indigenous Uttam AESA Radar programme.
Stocks to Buy: Choice Broking Weekly Recommendations, Aakash Shah recommends buy on Welspun Corp, Astra Microwave Products and Jay Bharat Maruti.
Record defence production and exports, coupled with strong order books and improving execution, are expected to support healthy growth for defence companies in FY27
Since April, the Nifty India Defence index has zoomed 33 per cent, as against 8 per cent rally in the Nifty 50.
At 12:24 PM on Wednesday, the Nifty India Defence index was the top gainer among thematic indices up 2.8 per cent as against a 0.3 per cent rise in the Nifty 50.
Despite a 3.6% dip in the past two trading days, the Nifty India Defence index has outperformed the market soaring 22% since April 2026.
The geopolitical backdrop, analysts believe, continues to provide a structural tailwind, as the conflict in the Middle East has reinforced defence budget urgency across GCCs
For the Q4FY26, Astra Microwave Products reported a consolidated net profit of ₹106 crore, up 44 per cent on Y-o-Y basis. The company also recommended a dividend of ₹2.40 per equity share.
Thus far in the month of April, Nifty India Defence index has outperformed the market by surging 8 per cent, as against 3 per cent gain in Nifty 50.
Motilal Oswal Financial Services has a 'Buy' rating on Bharat Electronics, Hindustan Aeronautics, Bharat Dynamics, and Astra Microwave Products
The brokerage in its note highlighted that the global defence sector has entered a structurally elevated growth phase, driven by persistent geopolitical conflicts
At 09:22 AM on Monday, the Nifty Defence index rose 1.1 per cent, as compared to 1 per cent decline in the Nifty 50 amid rising US-Iran tensions.
Defence stocks are in a momentum on a day when French President Emmanuel Macron is visiting India, raising hopes that India could seal a deal to buy more fighter jets
At 11:15 AM on Friday; the Nifty India Defence was the sole sectoral index trading in green and up 0.08 per cent, as compared to 1 per cent decline in the Nifty 50.
Goldman Sachs highlighted three major tailwinds for the sector, including an 18 per cent Y-o-Y increase in capital procurement in the Union defence budget for FY27, and the proposed India-EU FTA