Prime Minister Narendra Modi’s emphasis on the need for more military self-reliance via domestic equipment caused shares of Indian defense industries to soar on May 13. To trade at 7,416, the Nifty India Defence index increased by about 4%.

PM Modi emphasized the accomplishments of the Indian military and the potency of domestically produced weapons in his maiden speech to the public on May 12 on Operation Sindoor. “Our Made in India weaponry’s legitimacy was established. The world today recognizes the need for domestic defense systems in 21st-century combat,” he stated.

The largest gainer, Bharat Dynamics Ltd. (BDL), rose more than 7% to Rs 1,683.90. During a joint briefing of the DGMOs, Air Marshal AK Bharti commended the effectiveness of India’s own Akash air defense system, describing it as a highlight in the operation. Investor interest is probably fueled by the fact that BDL is one of the major producers of the Akash missile system.

Strong gains were also seen by other defense firms, with BEML, Bharat Electronics (BEL), and Hindustan Aeronautics Ltd. (HAL) all seeing increases of more than 4.3%. Mazagon Dock Shipbuilders increased by 3.6%, while Zen Technologies and Cochin Shipyard had gains of almost 4%. Moreover, over 3% was contributed by GRSE and 2.7% by Paras Defence.

“All military bases and systems are fully operational,” Air Marshal Bharti promised. We’re ready for any upcoming missions.”

In FY25, India’s defense exports reached a record of Rs 23,622 crore, a 12% rise from the previous year. By 2029, Rajnath Singh, the minister of defense, wants to see defense exports reach Rs 50,000 crore.

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