Updated Jun 16, 2024 | 06:50 PM IST
Defence Stocks To BUY: Investor confidence to increase stock investments in defence industries has increased due to central government target of increasing export which has boosted the defence stock performance on the bourses.
Rajnath Singh stated that the government will work to increase defence sector exports. (Image: Freepik/ET NOW News)
Defence Stocks To BUY: The development of a strong, “Aatmanirbhar” government with robust and self-reliant defence manufacturing would be the top objective of Prime Minister Narendra Modi’s administration, according to Union minister Rajnath Singh, who assumed leadership as defence minister. At his office in South Block, the national capital, Singh assumed responsibility as the Defence minister. He stated that the government will work to increase defence sector exports, with a goal of Rs 50,000 crore over the next five years.
Investor confidence to increase stock investments in defence industries has increased due to central government target of increasing export which has boosted the defence stock performance on the bourses. The list of defence stocks that saw a 28% increase last week is as follows, according to ET report:
Paras Defence and Space Technologies
Paras Defence & Space Technologies’ stock price increased by 28% in the previous week. The stock’s 52-week high and low are Rs 1,157 and Rs 552. The CMP of stock is Rs 1,157.
Mazagon Dock Shipbuilders
Mazagon Dock Shipbuilders’ shares rose 23% in the previous week. The 52-week high and low for the stock are Rs 3,989 and Rs 1,027, respectively. The CMP of stock is Rs 3,875.
Garden Reach Shipbuilders and Engineers
Garden Reach Shipbuilders & Engineers’ shares rose 20% last week. The 52-week high and low for this stock are Rs 1,687 and Rs 543, respectively. The CMP of stock is Rs 1,628
Astra Microwave Products’ shares increased by 20% in the previous week. The stock’s 52-week high and low are Rs. 980 and Rs. 342. The CMP of stock is Rs 965.
BEML shares rose 19% in the previous week. The stock’s 52-week high and low are Rs 4,779 and Rs 1,500. The CMP of stock is Rs 965.
Data Patterns (India) stock has risen 11% in the previous week. The stock’s 52-week high and low are Rs 3,444 and Rs 1,735. The CMP of stock is Rs 2,935.
Cochin Shipyard’s shares rose 11% in the previous week. The stock’s 52-week high and low are Rs 2,175 and Rs 273. The CMP of stock is Rs 2,122.
Bharat Dynamics’ shares rose 11% in the previous week. The stock’s 52-week high and low are Rs 1,660 and Rs 450. The CMP of stock is Rs 1,582.
Hindustan Aeronautics stock has up 10% in the previous week. The stock’s 52-week high and low are Rs 5,435 and Rs 1,768. The CMP of stock is Rs 5,200.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
