BELRISE

among Gaurang Shah's top three defence picks

Defence stocks are in action today following Rs 30,000 crore ‘Anant Shastra’ air defence tender issued by Army. Bharat Electronics Ltd (BEL) and Bharat Dynamics Ltd (BDL) shares gained around 3 per cent on Monday (September 29). BEL shares today gained after 5-day of consecutive fall and made an intraday high of 3.09 per cent at Rs 408.15. Around 2:30 PM BEL shares traded firmly in the green to quote 1.25 per cent higher at Rs 400.84. Likewise, BDL shares gained 2.08 per cent to make an intraday high of Rs 1529. Around 2:30 PM, BDL shares 0.60 per cent higher at Rs 1502. According to an ANI report, the Indian Army issued a Rs 30,000 crore tender for the procurement of regiments of the indigenously developed ‘Anant Shastra’ surface-to-air missile (SAM) systems. The tender has been issued to BEL, which will be responsible for the production of the missile system, while BDL will be co-producing it, as per reports.