More than Rs 86,000 crore increase in the market price of defense shares since the Pahalgam attack

Mumbai, May 14 (IANS). The market cap of the Indian defense sector has increased rapidly since the Pahalgam terror attack. 26 people lost their lives in this terrorist attack on April 22. The fast began after the Indian army occupied a large accurate attack on terrorist infrastructure in Pakistan and Pakistan Kashmir (POK). The operation with India’s largest three-service action since the war in 1971 has largely increased confidence in defense shares. Despite increasing geopolitical tensions, the shares of defense companies have recorded a boom. As a result, the Nifty India Defense Index, which has detected the performance of major defense shares, recorded an increase of 9.39 percent since the launch of military action, while the criterion Nifty rose by 1.98 percent during the same period. The share price of Paras Defense and Space Technologies Limited has risen by about 40 percent since April 22. According to the market data, Garden Reach Shipbuilders and Engineers Limited rose by more than 28 percent. All the Alliance Corporation Limited and Bharat Dynamics also performed strongly, each of which increased by more than 26 percent. Other notable performances include data pattern India and DCX systems, both of which have registered more than 20 percent returns. The refusal in the region also showed the market cap contribution of key players. Bharat Electronics Limited (BEL) added Rs 23,683 crore to the market price of the sector, while Hindustan Aeronautics Limited (HAL) and Bharat Dynamics contributed Rs 21,654 Crore and Rs 12.345 Crore respectively. Other companies such as Majgaon Dock shippers and solar industries also played an important role in the total market cap, which contributed Rs 9,971 crore and Rs 6,859 crore respectively. Meanwhile, the domestic defense sector remained the best sector on Wednesday, attracting the ongoing interest of investors, while some instability was in the day in broad markets. -Ians skt/gkt