Thus far in the month of April, Nifty India Defence index has outperformed the market by surging 8 per cent, as against 3 per cent gain in Nifty 50.
Motilal Oswal Financial Services has a 'Buy' rating on Bharat Electronics, Hindustan Aeronautics, Bharat Dynamics, and Astra Microwave Products
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.
Zen Technologies share price rose 9.67 per cent to ₹1,346.90, the highest level since January 7 this year
In its winter session, the Defence Acquisition Council (DAC) approved capital acquisition proposals worth ₹79,000 crore, taking total approvals in FY26 year-to-date (Y-T-D) to around ₹3.3 trillion.
Around 9:50 AM, Zen Technologies share price continued to trade 0.7 per cent higher at ₹1,405 per share. In comparison, BSE Sensex was trading 0.24 per cent lower at 85,365.02.
Motilal Oswal remains positive on Bharat Electronics, Hindustan Aeronautics and Bharat Dynamics, assigning 'Buy' ratings with target prices of ₹500, ₹5,800 and ₹2,000, respectively
Market experts attributed the weakness to a combination of valuation concerns, liquidity pressures and profit booking.
Around 12:15 PM, Zen Technologies share price was trading 4.08 per cent higher at ₹1,411.80 per share. In comparison, BSE Sensex was down 0.11 per cent at 83,844.90 levels.
In the quarter ended September 2025, Zen Technologies reported a net profit of ₹59.4 crore, as compared to ₹62.6 crore a year ago, down 5 per cent