 "Defence shares rally as panel clears projects worth Rs 80,000 crore")
Shares of defence companies have rallied by up to 7% in early morning deals on the bourses after the government on Saturday cleared defence projects worth Rs 80,000 crore.
A committee has been set up to evaluate which Indian defence shipyards can build six high-tech, conventional submarines under Project 75I at an estimated cost of Rs 50,000 crore, a Business Standard report suggests.
Among the individual stocks, Bharat Electronics and BEML has surged 7% each at Rs 2,195 and Rs 701 respectively. Pipavav Defence and Offshore is locked in upper circuit of 5% at Rs 43.05, Walchandnagar Industries up 5% at Rs 114, and Astra Microwave Products up 4% at Rs 123 on BSE.
A committee has been set up to evaluate which Indian defence shipyards can build six high-tech, conventional submarines under Project 75I at an estimated cost of Rs 50,000 crore, a Business Standard report suggests.
Among the individual stocks, Bharat Electronics and BEML has surged 7% each at Rs 2,195 and Rs 701 respectively. Pipavav Defence and Offshore is locked in upper circuit of 5% at Rs 43.05, Walchandnagar Industries up 5% at Rs 114, and Astra Microwave Products up 4% at Rs 123 on BSE.