Defence stocks surge as MoD issues sixth Positive Indigenisation List

Shares of several defence companies rose sharply on August 18 after the Ministry of Defence notified the sixth Positive Indigenisation List (PIL) containing 405 strategically important items. The list carries an estimated business potential of about Rs 3,070 crore and forms part of the government’s push for greater self-reliance under the Aatmanirbhar Bharat initiative.

e led the gains with an 8% jump, while Zen Technologies advanced 6.6%. Other stocks such as Axiscades, Garden Reach Shipbuilders & Engineers ( GRSE ) and Data Patterns also posted solid gains of 3–4%. The Nifty India Defence index was trading higher by around 1.3%.