Defence Stocks Rally Up to 5% After DAC Clears Rs 21,772 Crore Acquisition Proposals
In a significant boost for India's defence sector, stocks of major defence companies surged by up to 5% following the Defence Acquisition Council's (DAC) approval of acquisition proposals worth Rs 21,772 crore. The DAC, headed by Defence Minister Rajnath Singh, greenlit key procurements to strengthen the Indian armed forces. Among the approved proposals, the most notable is the purchase of advanced weapons systems, including helicopters, missile systems, and ammunition, aimed at enhancing the operational readiness of the Indian Army, Navy, and Air Force. This move is seen as a part of the government's ongoing effort to modernize India's defence infrastructure and reduce reliance on foreign suppliers. The rally in defence stocks reflects investor optimism about the government's commitment to defence sector reforms and its focus on indigenization. Analysts believe that these acquisitions will create long-term growth opportunities for domestic defence manufacturers, pa...