The Nifty India Defence index hit an intra-day high of 9,093.20, up 1.3 per cent on the NSE in intra-day deals, and was inching towards its 52-week high of 9,159.55 touched on June 24, 2025.
BEML's share price was trading 3 per cent higher at ₹1,821.70, compared to the previous session's close of ₹1,768 on the NSE
Among the defence stocks, Paras Defence, Bharat Dynamics, Apollo Micro Systems, BEML, Midhani, Bharat Electronics and Astra Microwave gained between 8% and 10% in Wednesday's intra-day trade.
Cochin Shipyard, GRSE, BDL, BEML, Paras Defence, Mazagon Dock Shipbuilders and Unimech Aerospace have plunged between 40% and 51% from their respective 52-week highs.
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.
Thus far in the month of February, the Nifty India Defence index slipped 5.5 per cent, as against 1.3 per cent rise in the Nifty 50.
Defence stocks: Data Patterns, GRSE, Paras Defence, BEML, Mazagon Dock and BEL among others crashed up to 19% in Sunday's intra-day trade even as FM proposed 15% higher Budget spends for the sector.
Elara Capital expects its capital goods universe to clock 12 per cent sales growth in Q3, while consumer electricals and durables are seen growing 22 per cent Y-o-Y
Jupiter Wagons (JWL) surged 9% to ₹337.70 on the back of over four-fold jump in the average trading volumes; the stock has zoomed 30% in two days.
Elara Securities has maintained a 'Buy' on the stock, citing expected double-digit earnings growth during FY25-28E, and a rising order pipeline ensuring steady revenue visibility
Market experts attributed the weakness to a combination of valuation concerns, liquidity pressures and profit booking.
The Nifty Defence index has shed nearly 3 per cent in November, with stocks such as BEML, MIDHANI and HAL among others falling up to 17% despite 1% gain on the Nifty 50.
At 12:03 PM on Monday; NSE India Defence index was the top loser among sectoral indices, down 2 per cent, as compared to 0.08 per cent rise in the Nifty 50.
At 01:40 PM on Friday; Nifty India Defence index was the top gainer among sectoral indices, up 0.85 per cent as compared to 0.43 per cent decline in the Nifty 50.