After PM Modi’s ‘Made in India’ statement, Indian Defense Stocks up to 11% boom, condition of Chinese defense shares
Today, on May 13, Tuesday, there was a tremendous boom in the stocks of Indian Defense Stocks. At the same time, Chinese Defense Stocks fell today after India and Pakistan after India Pakistan Ceasefire. In today’s business, shares of companies like India Dynamics (BDL), Bharat Electronics (BEL), Hindustan Aeronautics (HAL) and Cochin Shipyard climbed from 3% to 11%. The biggest reason for this boom is Prime Minister Narendra Modi’s statement promoting ‘Made in India’ defense equipment and the effect of recently launched operation vermilion.
Effect of Operation Sindoor and ‘Made in India’
Addressing the country on May 12, PM Modi said that Operation Sindoor has proved the strength of the Indian Army in front of the world. During this time, the capacity of Indian weapons, especially indigenous defense systems, showed that India is no longer behind in the 21st century War Technology. He clearly said that the time has come to adopt the world ‘Made in India’ defense system.
BDL shares jumped about 11% due to order getting order for ‘Akash Missile System’
By 2:16 pm today, Bharat Dynamics Limited (BDL) shares rose by about 10.87% i.e. Rs 170.70 to Rs 1,740.60. It has recently received a big order to create ‘Akash Missile System’, which increased the stock and faster.
Similarly, India Electronics (BEL) shares rose by Rs 3.72% i.e. Rs 12 to Rs 334.80, while Hindustan Aeronautics (HAL) was trading at Rs 4,599.10 with a rise of 3.59%. In addition, the shares of Cochin Shipyard climbed 4.11%, the stocks of 3.11% and the shares of the shares of around 3.43% of the shares of around 3.43% Climb Estra microwave products also rose by 3.43% to Rs 897.45.
India-Pakistan ceasefire impact on China’s defense stocks
On the other hand, after the ceasefire between India and Pakistan on May 10, the shares of Chinese defense companies saw a strong decline. On May 13, Hong Kong’s Hong Seng China A Aerospace and Defense Index recorded a 3% decline. Shares of big Chinese companies like AVIC Chengdu and Jhojo Hongada broke from 8.6% to 6.3%. The reason for this is that it was accepted in the Parliament of Pakistan that Pakistan used China-made J-10C fighter jets.
Pakistan exposed Dependency on China
On May 7 and 8, Pakistan attacked drones and missiles in areas of Jammu, Punjab and Rajasthan, using China -made weapons. But India’s Advanced Air Defense System intercepted these attacks, which raised questions on China’s ability.
PM Modi’s ‘Made in India’ appeal and the success of Operation Sindoor have given a new pace to the defense sector. In view of this, it can be said that if the defense export and local manufacturing continue to grow at this speed, then the chances of long -term growth in the defense sector will be stronger. In such a situation, if you are planning a long term investment, then you can choose defense stocks.