The Nifty India Defence index is up 27 per cent on a year-to-date (Y-T-D) basis. It remains higher by 30 per cent in a year.
Supreme Industries is witnessing a positive shift in its daily price structure following a prolonged corrective phase.
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.