Defence stocks soar amid India-Pakistan border tensions

Apollo Micro Systems led the charge with a 14.24% gain, followed by Astra Microwave Products (5.63%), Paras Defence and Space Technologies (5.46%), and Bharat Dynamics (5.37%). Other notable gainers included ZEN Technologies (5%), Mishra Dhatu Nigam (4.64%), Mazagon Dock Shipbuilders (4.01%), Data Patterns (India) (3.52%), Bharat Electronics (2.62%) and Hindustan Aeronautics (1.59%).

The rally comes on the heels of India's successful overnight interception of Pakistani missile and drone attacks targeting key military installations in Jammu, Pathankot, and Udhampur. The swift response reportedly neutralised multiple threats across 15 locations in northern and western India.

According to market analysts, the surge in defence stocks is also backed by strong order books and recent order wins. While India currently allocates around 2.3% of its GDP to defence spending'lower than global peers spending 3'5%'analysts anticipate a 7'8% annual rise in capital outlay over the next five years, potentially fueling further growth in the sector.

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