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Defence stocks like Hindustan Aeronautics, Bharat Electronics, and Bharat Dynamics soared in Monday’s trade, riding on a fresh policy push.
What’s happening: the rally followed the government’s renewed drive to manufacture critical military equipment at home and cut reliance on foreign tech. Momentum picked up after PM Narendra Modi, in his Independence Day speech, unveiled ‘Mission Sudarshan Chakra’ and doubled down on his call for indigenous jet engines.
The prime minister urged innovators and young engineers to lead the effort, underscoring India’s ambition for fully self-reliant defence technology. His push gains extra weight as negotiations between HAL and US defence giant GE Aerospace to co-produce a next-gen jet engine face fresh hurdles.
Why it matters: the announced project is designed to safeguard India’s key military and civilian assets while ensuring a decisive response to enemy threats, a move that comes amid rising security concerns from Pakistan and China.
