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Defence stocks such as Cochin Shipyard Ltd., Paras Defence Ltd., Cyient DLM Ltd., Hindustan Aeronautics Ltd. (HAL) are trading with gains of up to 5% on Monday, September 15.
This comes a day after defence minister Rajnath Singh approved the new Defence Procurement Manual (DPM) 2025. The manual is a comprehensive framework that aims at speeding up revenue procurement of the Armed Forces, boosting domestic defence participation, and aligning processes with the needs of modern warfare.
The Ministry of Defence said the revised manual is designed to streamline, simplify, enable and rationalise the revenue procurement process” while meeting the emerging requirements of modern warfare.
Officials said the manual will help maintain a high level of operational readiness via faster decision-making and timely availability of resources.
Defence stocks such as MTAR Tech Tech, Garden Reach Shipbuilders, Bharat Dynamics, BEML, gained up to 9% in the previous trade session on Friday, ending the week on a high.
MTAR Tech's management told CNBC-TV18 the company is aiming to double its revenue to between ₹1,500 crore and ₹1,600 crore by the financial year 2028.
Paras Defence on Friday said it won an order worth ₹26.6 crore from Opto Electronics Factory
The Nifty India Defence index was up 0.3% around 10 am on Monday. A total of 10 of the 18 stocks in the index were trading with gains. The index was up 4.4% in the previous session. The index has risen nearly 3% in the past month.
Also Read: KRBL shares fall 12% after Independent Director quits citing corporate governance issues
This comes a day after defence minister Rajnath Singh approved the new Defence Procurement Manual (DPM) 2025. The manual is a comprehensive framework that aims at speeding up revenue procurement of the Armed Forces, boosting domestic defence participation, and aligning processes with the needs of modern warfare.
The Ministry of Defence said the revised manual is designed to streamline, simplify, enable and rationalise the revenue procurement process” while meeting the emerging requirements of modern warfare.
Officials said the manual will help maintain a high level of operational readiness via faster decision-making and timely availability of resources.
Defence stocks such as MTAR Tech Tech, Garden Reach Shipbuilders, Bharat Dynamics, BEML, gained up to 9% in the previous trade session on Friday, ending the week on a high.
MTAR Tech's management told CNBC-TV18 the company is aiming to double its revenue to between ₹1,500 crore and ₹1,600 crore by the financial year 2028.
Paras Defence on Friday said it won an order worth ₹26.6 crore from Opto Electronics Factory
The Nifty India Defence index was up 0.3% around 10 am on Monday. A total of 10 of the 18 stocks in the index were trading with gains. The index was up 4.4% in the previous session. The index has risen nearly 3% in the past month.
Also Read: KRBL shares fall 12% after Independent Director quits citing corporate governance issues
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