Indian defence stocks saw a strong rally last week, powered by rising geopolitical tensions, solid quarterly results, and consistent government support for local defence manufacturing.

Garden Reach Shipbuilders & Engineers (GRSE) jumped over 11% after posting strong March quarter results, lifting investor sentiment.
Cochin Shipyard also gained more than 11%, thanks to robust earnings and growing expectations of fresh defence orders.
Bharat Dynamics Ltd (BDL) rose by around 6.9%, boosted by increased demand for missile systems.
Hindustan Aeronautics Ltd (HAL) advanced by 6.94%, reflecting steady interest in aerospace and defence platforms.
Bharat Electronics Ltd (BEL) added 4.43%, helped by anticipated growth in defence electronics orders.
Paras Defence and Space Technologies soared nearly 19%, driven by strong market confidence amid heightened security concerns.

What’s behind the rally?
Ongoing India-Pakistan tensions have spurred expectations of greater defence spending. At the same time, strong Q4 earnings from key players like GRSE and Cochin Shipyard reassured investors. Government initiatives like ‘Make in India’ and a push for defence self-reliance continue to create tailwinds. Add to that the large order books of companies like HAL and BEL, and it’s clear why the sector stood out.