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Shares of defence companies surged on September 12, pushing the Nifty India Defence index higher by nearly 3%
Defence Shares Rally
Shares of defence companies surged on September 12, pushing the Nifty India Defence index higher by nearly 3 per cent to 7,922 as of 10:42 am. The rally was supported by fresh order wins and heavy trading volumes across several key stocks.
GRSE, MTAR Lead the Charge
Garden Reach Shipbuilders & Engineers (GRSE) emerged as the top gainer, jumping nearly 6 percent to Rs 2,490.20. The stock saw active volumes of nearly 13 lakh shares, almost double its 10-day average. Notably, today is also the record date for determining shareholders eligible for its Rs 4.9 per share dividend.
MTAR Technologies followed with a gain of almost 6 per cent to Rs 1,619. The company recently announced orders worth $43.87 million (approximately Rs 386 crore) from Bloom Energy Corporation. Trading volumes in the stock were three times higher than the 10-day average.
Broader Gains Across Defence Pack
Astra Microwave Products rose nearly 5 per cent, while Mazagon Dock Shipbuilders advanced more than 4 per cent. September 19 has been set as the record date for Mazagon Dock’s Rs 2.71 per share dividend.
Paras Defence and BEML shares added close to 4 per cent each, supported by strong volumes. Paras Defence also announced incremental orders worth Rs 26.6 crore from Opto Electronics Factory for supplying electronic control systems for battle tanks to the Indian Armed Forces.
Dividend Buzz Supports Rally
Bharat Dynamics (BDL) and Hindustan Aeronautics (HAL) gained around 3 per cent apiece, with BDL’s Rs 0.65 per share dividend record date scheduled for September 19. Solar Industries, Cochin Shipyard, and Bharat Electronics (BEL) also rose over 2 per cent each. For Cochin Shipyard, today marks the record date to determine eligibility for its Rs 2.25 per share dividend.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
September 12, 2025, 12:38 IST
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