Defence Stocks Surge: Sika, Astra Microwave Up 9%+ | PTI

New Delhi, May 15 (PTI) Shares of defence-related firms, including those of drone manufacturers, makers of missiles and allied equipment, continued to attract buyers' interest on Thursday, ending the day on a firm note.

The stock of Sika Interplant Systems zoomed 9.26 per cent, Astra Microwave Products surged 9.23 per cent, Axiscades Technologies soared 5 per cent, Taneja Aerospace & Aviation, which specialises in aerospace and aviation services, edged up 4.99 per cent, Data Patterns advanced 3.30 per cent, Paras Defence climbed 3.12 per cent, Bharat Dynamics rallied 2.35 per cent, Hindustan Aeronautics went up 2 per cent, Bharat Electronics (1.74 per cent) and Mishra Dhatu Nigam (1.55 per cent) on the BSE.

Shares of drone manufacturer Droneacharya Aerial Innovations went up 2 per cent.


In the equity market, the 30-share BSE Sensex jumped 1,200.18 points, or 1.48 per cent, to settle at a seven-month high of 82,530.74. The NSE Nifty surged 395.20 points, or 1.60 per cent, to settle at a seven-month high of 25,062.10.

Defence stocks ended higher on Wednesday, Tuesday, Monday, and Friday as well.

Shares of defence-related firms have been in focus since India launched Operation Sindoor on May 7 to destroy terror infrastructure in Pakistan and Pakistan occupied Kashmir in retaliation to the April 22 Pahalgam terror attack, which claimed 26 lives.

"Defense stocks remain in focus, buoyed by strong domestic demand and rising export optimism, having gained nearly 11 per cent this week," Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd, said.