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.
Market experts attributed the weakness to a combination of valuation concerns, liquidity pressures and profit booking.
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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.
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.
Leading the list is GNG Electronics (Target: ₹482 | Upside: 52%), named by Nirmal Bang, which expects robust growth as the company benefits from the govt's 'Make in India' thrust on electronics mfg.
Paras Defence share price rose today after the company said its arm, Paras Anti-Drone Technologies, has bagged an order worth ₹46.19 crore from the Ministry of Defence, Government of India.
Among individual stocks, Solar Industries, Bharat Electronics, Data Patterns and PTC Industries are Goldman Sachs' top buy ideas, while Bharat Dynamics has been rated Sell'.
Paras Defence, Midhani were seen trading above the super trend line hurdle on the daily chart, thus implying a likely positive trend going ahead.
At 10:32 AM; Nifty India Defence index was up 2.6 per cent, as compared to 0.28 per cent rise in Nifty 50.
Thus far in the month of July, Nifty India Defence index has underperformed the market by falling 12 per cent, as against 3.3 per cent decline in Nifty 50.