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Shares of Indian defence companies surged on May 13 after Prime Minister Narendra Modi emphasized the need for greater self-reliance in military capabilities
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Shares of Indian defence companies surged on May 13 after Prime Minister Narendra Modi emphasized the need for greater self-reliance in military capabilities through indigenous equipment. The Nifty India Defence index jumped nearly 4% to trade around 7,416.
In his first public address on Operation Sindoor on May 12, PM Modi highlighted the success of Indian armed forces and the effectiveness of locally manufactured weaponry. “The credibility of our Made in India weapons was proven. The world now sees that 21st-century warfare demands indigenous defence equipment,” he said.
Bharat Dynamics Ltd (BDL) led the gains, surging over 7% to Rs 1,683.90. Air Marshal AK Bharti, during a joint briefing by the DGMOs, praised the performance of India’s indigenous Akash air defence system, calling it a standout in the operation. BDL is among the key manufacturers of the Akash missile system, likely fueling investor enthusiasm.
Other defence majors also saw strong gains—BEML, Bharat Electronics (BEL), and Hindustan Aeronautics Ltd (HAL) rose over 4.3% each. Zen Technologies and Cochin Shipyard gained more than 4%, while Mazagon Dock Shipbuilders climbed 3.6%. GRSE and Paras Defence added over 3% and 2.7%, respectively.
Air Marshal Bharti assured, “All military bases and systems are fully operational. We are prepared for future missions.”
India’s defence exports hit a record Rs 23,622 crore in FY25, a 12% year-on-year increase. Defence Minister Rajnath Singh has set a target of reaching Rs 50,000 crore in defence exports by 2029.
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