Despite a slow start of equity benchmark indices, Sensex and Nifty, amid heightened tensions in the Middle East, shares of defence companies are in action today. The rally in these stocks continues even as the 50-share NSE Nifty dropped 182.85 points to 24,929.55 and the 30-share BSE Sensex tumbled 705.65 points to 81,702.52 in early trade. The Nifty Defence index started on a positive note and opened at 8,901.85 against the previous close of 8,891.20. However, the sharp rise in the share prices of defence stocks pushed the Nifty Defence index up nearly 2.35 per cent to touch a high of 9,097.45 in the morning.
Almost all the stocks from the Nifty India Defence index were in the green with Zen Technologies, Paras Defence and Space Technologies being the top gainer. PSU stocks like Hindustan Aeronautics (HAL), Bharat Dynamics (BDL), Bharat Electronics (BEL), and BEML were over 3-4 per cent.
BEL Share Price
Shares of Bharat Electronics Ltd (BEL) opened in green at Rs 411.40 on the BSE against the previous close of Rs 408.05. They gained further to touch the high of Rs 420.50, also a new 52-week high. In between, they dipped to Rs 409.30. The stock's 52-week low is Rs 240.15.
BEML Share Price
The counter started the session gap down with a loss of 3.99 per cent today at Rs 4442.40. However, it rebounded and touched the high of Rs 4,855.55 on the BSE. This is a gain of around 5 per cent from the last closing price.
HAL Share Price
The shares of public sector undertakings (PSU) had a positive start. They started the session at Rs 4,973, against the previous close of Rs 4,971.95. They surged further to touch the high of Rs 5,049.10.
Shares of Mazagon Dock Shipbuilders and Mishra Dhatu Nigam Limited were up by 2.44 per cent and 3.26 per cent, respectively, at the time of writing this news. DCX Systems Limited and Cyient DLM Limited were up by over 1 per cent.