Defence stocks trade mixed bag as defence ministry approves Rs 2,800 crore order to purchase 6400 rockets

While the two main contenders for the contract are Solar Industries and Munitions India, L&T, Tata Defence, and Economic Explosive companies from the private sector are also involved in the project.

The Pinaka Multi-Barrel Rocket Launcher System at the Republic Day Parade in New Delhi. Photo: Defence ministry/Representational

Defence stocks like Bharat Dynamics, Hindustan Aeronautics Limited, Solar Industries, L&T and Paras Defence are trading mixed bag on BSE on Thursday (December 14, 2023) after the defence ministry on Wednesday approved a Rs 2,800 crore proposal to purchase about 6,400 rockets for the Pinaka Multi-Barrel Rocket Launcher System.

While the two main contenders for the contract are Solar Industries and Munitions India, L&T, Tata Defence, and Economic Explosive companies from the private sector are also involved in the project.

Amid the Rs 2800 crore project, we take you through the performance of defence stocks on Thursday.

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Solar Industries

The share of the company was trading higher by 3.61 per cent, or Rs 234.50, at Rs 6726.50, in morning deals.

L&T

Larsen and Toubro was also up by 0.27 per cent, or Rs 9.35, at Rs 3409.40.

Bharat Dynamics

Bharat Dynamics slipped by 0.59 per cent, or Rs 8.15, at Rs 1375.00.

Hindustan Aeronautics

The stock of the defence company was trading higher by 0.57 per cent, or Rs 15.65, at Rs 2785.00.

Paras Defence

The stock is trading higher by 1.80 per cent, or Rs 13.10, at Rs 740.00.

Mazagon Dock Shipbuilders

The stock of the shipbuilder company was also in the green as it traded up by 0.52 per cent, or Rs 10.80, at Rs 2086.00.

Cochin Shipyard

The stock of the company that manufactures ships for the Indian Navy was trading in negative territory as it was down by 0.34 per cent, or Rs 4.35, at Rs 1269.85.

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