Defense shares in focus; Cochin Shipyard, Garden Reach, MTAR gain up to 14%

Ratings agency Icra expects business opportunities worth Rs 2.75 trillion to open up for Indian defence entities during FY24 and FY25

Shares of defense related companies were in focus as they rallied up to 14 per cent on the BSE in Tuesday's intraday trade, in an otherwise subdued market, on the back of heavy volumes on healthy business outlook.

Among individual stocks, Cochin Shipyard surged 14 per cent to Rs 1,123, Garden Reach Shipbuilders & Engineers rallied 8 per cent to Rs 863.55, followed by MTAR Technologies (6 per cent at Rs 2,541), Mazagon Dock Shipbuilders (6 per cent at Rs 2,285), Zen Technologies (5 per cent at Rs 791), Astra Microwave Products (5 per cent at Rs 436.50), and