Nifty India Defence index hit a new high of 9,912.75, gaining 1% in Monday's intra-day deals. The index quoted higher for the fourth straight trading day.
On the broader market outlook, Ajit Mishra, SVP-Research of Religare Broking says the Nifty remains in consolidation mode, with key support at 23,600. On the upside, bullish pivot stands at 24,600.
The defence stock was in focus on reports that Data Patterns secured the L1 position for an order worth ₹1,300 crore from HAL for Buffer amplifier and BITE (Built-In Test Equipment) modules.
Defence stocks in focus: The Defence Acquisition Council (DAC) approved capital acquisition proposals worth about ₹52,000 crore to strengthen the combat capabilities of the armed forces.
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.
Data Patterns believes the defence industry is entering a multi-decade investment cycle driven by rising geopolitical uncertainties, accelerated modernization programs and focus on self-reliance.
At 11:29 AM on Friday, the BSE India Defence index was the top gainer among thematic indices up 1 per cent as compared to 0.11 per cent rise in the BSE Sensex.
Data Patterns shares fell up to 11% after the defence company guided for lower FY27 Ebitda margins despite reporting strong Q4 profit growth and a record order book
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.
With strong policy environment, rising defence allocations, increasing indigenization and a clear shift towards advanced electronics and systems, Data Patterns is well-positioned to benefit.
Stocks to Watch today, March 16: Jindal Stainless, Seamec, Adani Power, GMR Airports, IndiGo, and Voltas are among the top stocks
The brokerage in its note highlighted that the global defence sector has entered a structurally elevated growth phase, driven by persistent geopolitical conflicts
In the past one month, the Nifty India Defence index has rallied 11 per cent, as against 4 per cent fall in the Nifty 50.
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.
Motilal Oswal estimates a 30 per cent compound annual growth rate (CAGR) in aggregate revenue of their EMS coverage companies over FY25-28.
Share price of Data Patterns (India) rallied 9.5 per cent today to hit a high of ₹3,190 on the NSE in the intraday trade