As the government signed a Rs 63,000 crore agreement with France to buy 26 Rafale Marine fighter planes for the Indian Navy, New Delhi Defence stocks enjoyed a robust surge on Monday, rising more than 9%.

With a 4.5% increase, the Nifty Defence index had its biggest intraday rise since April 15.

With significant advances from businesses like Paras Defence and Space Technologies, Garden Reach Shipbuilders and Engineers, and Data Patterns (India), 17 of its 18 components were in the positive area.

Leading the pace, Paras Defence ended the intraday trading session on the National Stock Exchange (NSE) at Rs 1,142, representing a noteworthy 9.27% increase.

To further improve market mood, the business also disclosed in a filing on Friday that its board would convene on April 30 to approve audited financial reports for FY25, declare a dividend, and discuss a possible stock split.

Another significant participant in the industry, Garden Reach Shipbuilders, had an 8.11 percent increase on the NSE.

Other significant equities, such as Hindustan Aeronautics Limited (HAL), increased by more than 5.5%, while Mazagon Dock Shipbuilders and Cochin Shipyard recorded gains of 4.77 and 6.1%, respectively.

During the session, Bharat Electronics Limited (BEL) also saw a significant boost, climbing more than 3.28 percent.

The French company Dassault Aviation is planned to deliver the 26 Rafale-Marine aircraft to the Navy in 37 to 65 months. By 2030–31, all of the aircraft should have been delivered.

The French government would provide the Indian Navy with logistical assistance, crew training, armaments, simulators, spare parts, and related auxiliary equipment as part of the Rafale deal. Additionally, it incorporates domestic component production under offset commitments as a component of the ‘Atmanirbhar Bharat’ effort.

By deploying the fighter fighters aboard the aircraft carriers INS Vikrant and INS Vikramaditya, the Indian Navy would be better equipped to handle any danger that may arise in the Indian Ocean.

Designed to survive the harsh circumstances of aircraft carrier operations in a highly corrosive environment, the French maritime fighter is a robust aircraft.