Defence Stocks Surge as PM Modi’s Strong Anti-Terror Stand, ‘Make in India’ Push Lift Sentiment

Shares of leading defence companies rallied on September 2, with the Nifty India Defence index climbing 1.6 percent in afternoon trade, as investors rotated money into the sector. The rally was fuelled by the Centre’s Make in India push and Prime Minister Narendra Modi’s strong anti-terror stance at the Shanghai Cooperation Organisation (SCO) summit. During his address on September 1, PM Modi underscored India’s role in combating terrorism, stating, “India took the initiative to fight Al Qaeda and the terrorist organisations associated with it by leading the Joint Information Operation. We raised our voice against terror financing.” His remarks, viewed as supportive for defence equipment suppliers, boosted investor confidence. Adding to the momentum, reports suggested Russia is evaluating investment to manufacture its fifth-generation stealth fighter jet, the Sukhoi Su-57, in India. If executed, the move could significantly strengthen India’s defence manufacturing capabilities, with Hindustan Aeronautics’ Nashik facility seen as a potential site. The rally also reflected value buying after recent corrections following ‘Operation Sindoor’. Among the top gainers, BEML rose over 4% to Rs 4,057, Cochin Shipyard nearly 4%, Mazagon Dock Shipbuilders 3%, while GRSE and Data Patterns gained around 2% each. Bharat Dynamics, Paras Defence, BEL, and HAL also edged higher by about 1%. #StockMarket #DefenceStocks #MakeInIndia #HAL #BEL #CochinShipyard #DefenceSector #PMModi #SCO #Terrorism #Su57 #RussiaIndiaDefence