Defence stocks were trading higher as draft of a major policy prepared by the defence ministry stated that the government has identified the defence sector as a potential driver to boost the overall economy and is eyeing a turnover of Rs 1.75 lakh crore ($25 billion) in defence manufacturing by 2025.
Bharat Dynamics is currently trading at Rs. 419.95, up by 25.85 points or 6.56 % from its previous closing of Rs. 394.10 on the BSE. The scrip opened at Rs. 404.40 and has touched a high and low of Rs. 423.30 and Rs. 404.40 respectively.
Astra Microwave Products is currently trading at Rs. 109.70, up by 2.40 points or 2.24% from its previous closing of Rs. 107.30 on the BSE. The scrip opened at Rs. 110.00 and has touched a high and low of Rs. 111.55 and Rs. 108.85 respectively.
Bharat Electronics is currently trading at Rs. 99.95, up by 3.15 points or 3.25% from its previous closing of Rs. 96.80 on the BSE. The scrip opened at Rs. 97.50 and has touched a high and low of Rs. 100.60 and Rs. 97.00 respectively.
The policy is envisaged as overarching guiding document of the defence ministry to provide a ‘focused, structured and significant’ thrust to production of military hardware and platforms for self-reliance and exports. The policy is aimed at developing a dynamic, robust and competitive defence industry, including aerospace and naval shipbuilding, to cater to the needs of the armed forces.
The draft Defence Production and Export Promotion Policy (DPEPP) also prescribed a framework to reduce dependence on imports and take forward the ‘Make in India’ initiatives through domestic design and development. It also suggested steps to promote export of defence products to make India become part of the global defence supply chain. The policy paper made several key recommendations to boost defence manufacturing so that the sector compliments the government's aim make the country's economy a $5 trillion by 2024.
| Company Name | CMP |
|---|---|
| Hindustan Aeron | 4050.00 |
| Astra Microwave Prod | 749.25 |
| Data Patterns (I) | 2295.00 |
| Rossell India | 78.17 |
| NIBE | 1608.95 |
| View more.. | |
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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