Defense Stocks: Defense Minister Rajnath Singh on Friday said that India’s annual defense output in 2023-24 will be around Rs. 1.27 lakh crore will reach a record level and this is another achievement in the ‘Make in India’ programme. Defense production was valued at Rs 1,08,684 crore in FY 2022-23. Let’s know about the top 3 defense companies which have performed very well –
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1- NIBE LTD:
On Friday, the company’s share price touched a circuit above 5 percent on the BSE. Due to which the share price of the company has reached the level of 2138.50 rupees. In the last one year, the shares of this company have seen an increase of 490 percent. In terms of compensation, this defense company has left behind even the big companies.
The company designs and manufactures the mobile launcher program for the BrahMos missile and the Pinaka rocket launcher.
The state-owned company’s hegemony remains intact, with prices surging 18% on the sound of the news
2- India Dynamics
The performance of this defense sector company is also very good. On Friday, the company’s shares jumped 3 percent to Rs. was trading at 1735. On the first day, the share was Rs. was at a 52-week high of 1794.70. In the last one year, the shares of this government company have seen a rise of 200 percent.
3- Paras protection
On Friday, the shares of this company were also Rs. It touched an intra-day high of 1582.75. The company’s stock has seen an increase of more than 100 percent in the last one year. This is a private company. Who works related to defense sector. The company manufactures many products related to the defense sector.
Company announces business split, shares rise 18%, 1 share free
What did the defense minister say?
According to a statement issued by the Ministry of Defense on Friday, “The Ministry of Defense has decided to increase value in FY 2023-24 with a focus on achieving ‘self-reliance’ based on successful implementation of policies and initiatives. The government led by Prime Minister Narendra Modi has achieved the highest ever increase in indigenous defense production in this regard.
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