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.
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.
Mazagon Dock, Concor, IRCTC, DLF and SRF can bounce back from oversold levels owing to a positive divergence on the RSI indicator, explains Muthuselvaraj, technical analyst at Mirae Asset ShareKhan.
Mazagon Dock Shipbuilders has officially confirmed that Contract Negotiation Committee negotiations for P-75 (India) project between the company and the government have been completed.
At 01:58 PM on Thursday, the Nifty CPSE index was the the top gainer among sectoral and thematic indices, up 2.8 per cent, as compared to 0.4 per cent rise 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.
Upcoming dividend stock list: here is the complete list of stocks that will remain in the spotlight next week following their dividend announcements to shareholders as they trade ex-dividend
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.
Data Patterns, Bharat Electronics, CG Power and Industrial Solutions, Siemens Energy India and ABB India rallied in the range of 8 per cent to 14 per cent on the BSE in Wednesday's intra-day trade.
Defence Stocks Today: At 11:03 AM on Friday; Nifty India Defence index was up 1.3 per cent, as compared to 0.24 per cent decline in the Nifty 50.
Mazagon Dock and Germany's Thyssenkrupp may seal a $8-billion submarine manufacturing deal this year under India's Project 75 (I) programme
Antique noted that the Indian defence shipbuilding industry is poised for significant order inflows, supported by the Indian Navy and Indian Coast Guard's fleet expansion plans
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Market experts attributed the weakness to a combination of valuation concerns, liquidity pressures and profit booking.
R&D spending by India's defense PSUs over the next five years is slated to increase with a projected expenditure of ₹32,766 crore, exceeding ₹30,952 crore invested in the past 10 years.
Among the list, Coal India leads with the announcement of the highest interim dividend of ₹10.25 per share. Mazagon Dock Shipbuilders follows with an interim dividend of ₹6 per share
Mazagon Dock Shipbuilders' shares rose after the company reported strong financial performance for the September quarter of FY26 (Q2FY26).
On Thursday, the MoD said the Defence Acquisition Council approved procurement proposals worth ₹79,000 crore