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
Q2FY26 company results: Many firms including 3p Land Holdings, Covance Softsol, Pace Digitek and Samsrita Labs are also to release their July-September quarter earnings reports today
On Thursday, the MoD said the Defence Acquisition Council approved procurement proposals worth ₹79,000 crore
The buying on the counter came after the company acquired the remaining 24 per cent equity stake in Applied Research International Private Limited (ARIPL)
Stocks to watch on October 13, 2025: Stocks like HCL Technologies, Just Dial, Anand Rathi Wealth, and Den Networks will remain in focus as they will release their quarterly earnings today.
Nifty India Defence index declined 2% in Friday's intra-day trade, corrected 17% from its all-time high level of 9,195.15 touched on June 6, 2025.
The defence equipment manufacturer's net profit for the quarter ended June 30, 2025, stood at ₹47.75 crore, down by 38 per cent from ₹76.81 crore recorded in Q1FY25
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.