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.
Dassault Aviation and Dynamatic have entered into a strategic agreement for the manufacturing and assembly of the complete rear fuselage (Section 5) for Dassault's latest business jet, 'Falcon 6X'
Market experts attributed the weakness to a combination of valuation concerns, liquidity pressures and profit booking.
NSE India Defence index was quoting higher for the third straight trading day, surging 3.7% during the period, as against 0.14% decline in the Nifty 50.
At 2 PM, Dynamatic Technologies share price was trading 6.32 per cent higher at ₹8,567.90 per share. By comparison, BSE Sensex was trading 0.36 per cent lower at 83,674.53 levels.