The sharp rally in defence stocks came after the Defence Acquisition Council (DAC), headed by Defence Minister Rajnath Singh, approved 10 major capital acquisition proposals on Thursday.
From the Sensex Pack, Bajaj twins, Hindustan Unilever. Eternal (Zomato), Infosys and BEL were among the top gainers.
The northward move in the Unimech Aerospace share price came after domestic brokerage Anand Rathi raised its target price to ₹1,610 per share, from ₹1,315 earlier.
Shares of Axiscades Technologies surged today after the company signed two major international agreements aimed at boosting its presence in the aerospace, defence, and space technology sectors.
AXISCADES Technologies shares were up 5% at ₹1,413.50, trading higher for the fifth straight day, having appreciated by 91% from the April low of ₹741.70.
DCX Systems shares rose 2 per cent after it won new export and domestic orders worth ₹28.59 crore for the supply of cable and wire harness assemblies
Shares of Sika Interplant Systems (SIKA) hit a new high of ₹1,537.30, as they surged 10 per cent on the BSE in Wednesday's intra-day trade on healthy business outlook.
Axiscades Technologies shares surged after the company signed a strategic agreement with Spain-based Indra to jointly produce aerospace and defence solutions.
Technical charts show that HAL and BEL have zoomed around 1,000 per cent in little more than 5 years post a significant breakout on the monthly scale.
Since March 27, Force Motors share price appreciated by nearly 50% after the company said it has to deliver 2,978 Force Gurkha light vehicles (GS 4X4 800 kg Soft Top) to the Indian Defence Forces.
NIBE share price rose after securing an order worth Rs 23.33 crore from an infrastructure and defence company for supply of armour plat MIL12560 (ARMOUR).
Defence stocks in India were rising today amid report that the Indian Army is set to receive a significant boost with the Defence Ministry expected to clear a ₹30,000-crore proposal for acquisition
NIBE shares rose over 8 per cent after it secured the technology transfer license for its modular bridging system from the DRDO
Cochin Shipyard stock alert: Till 02:30 PM; a combined 21.52 million shares representing 8.2 per cent of total equity of Cochin Shipyard changed hands on the NSE and BSE.
Garden Reach Shipbuilders & Engineers rose nearly 5 per cent after the company signed multiple international deals
Analysts recommend defence stocks are fully priced-in at current levels, hence booking some profit is advisable; but remain optimistic of long-term prospects.
Shares of Apollo Micro Systems hit a new high of ₹183.60, soaring 18% on the BSE in Tuesday's intra-day trade after the company received export order worth of ₹114 crore.
Bharat Dynamics shares declined as investors booked profit in the stock after mixed Q4 results.
Share prices of BDL, Data Patterns, GRSE and Paras Defence have more-than-doubled and zoomed up to 131 per cent from their respective three-month lows.
The most likely bloc to enjoy long-term appreciation against the USD remains Asian currencies in what amounts to a reversal of the dynamic triggered by the Asian Crisis nearly 30 yrs ago, Wood said