PARAS DEFENCE, ZEN TECH, OTHER DEFENCE SHARES RISE UP TO 8% AS MOD NOTIFIES SIXTH POSITIVE INDIGENISATION LIST OF 405 ITEMS

DEFENCE STOCKS RISE UP TO 8%: Defence shares including Paras Defence and Zen Technologies gained up to 8 percent after the Ministry of Defence notified the sixth Positive Indigenisation List covering 405 defence items with an estimated business potential of Rs 3,070 crore. The list includes components, sub-systems, spares and raw materials for aircraft, helicopters, armoured platforms, warships, missiles and defence electronics. The items will be progressively indigenised and, once developed domestically, procured from Indian manufacturers. The initiative is expected to create fresh opportunities for domestic defence companies and MSMEs while reducing India’s dependence on defence imports. The Ministry said more than 15,700 defence items have already been indigenised, resulting in estimated import substitution of around Rs 9,000 crore over the past five years. The latest list is expected to further support the government’s push for indigenous defence production.