India’s defence sector plays an important role, in major investments and alliances. The sector’s budget allocation for 2023-24 was at ₹4.78 lakh crore, with emphasis on modernization and indigenous manufacturing.
It employs about 1.5 million people and operates in a variety of sectors such as aerospace, naval, and ground systems, all of which contribute to national security and technical growth.
Government of India has granted an extension in exemption of customs duty on the import of certain parts like military helicopters with an empty weight of more than 3,500 kg, associated role equipment, ground support equipment, ground handling equipment, and other categories, earlier the exemption, which was to end on July 1, 2024, has now been extended for five years till 2029.
Earlier, this month, India’s defence minister Rajnath Singh, targeted defence exports to Rs 50,000 crore by 2028-2029. Defence exports hit a record high of Rs 21,083 crore in the financial year 2024.
As the brokerage firm Anand Rathi suggested India’s defence and aerospace industry market is likely to grow to $11.8 billion by 2029. The private sector’s share in defence production has now hit an eight-year high of 22%.
Here are the defence stocks that can benefited after Gov. extended exemption of customs duty on the import of certain parts.
Bharat Electronics Ltd
Bharat Electronics Limited is an Indian firm that develops and provides electronic equipment and systems to both the defence and non-defense industries. Its defence products include navigation systems, defensive communication systems, land-based radars, and more.
With a market capitalization of Rs 2.23 lakh crore, the shares closed at Rs 305.20 per share increased by around 0.23 per cent as compared to the previous closing price.
Bharat Dynamics Ltd
Bharat Dynamics Limited is an Indian firm that manufactures missiles and associated defence equipment. The Indian Armed Forces and the Government of India get the vast bulk of the Company’s goods and services.
With a market capitalization of Rs 58,587.68 crore, the shares closed at Rs 1,599.00 per share decreased by around 0.20 per cent as compared to the previous closing price.
Hindustan Aeronautics Ltd
Hindustan Aeronautics Limited is an Indian firm that designs, develops, manufactures, repairs, overhauls, upgrades, and services a wide range of goods such as aeroplanes, helicopters, aero engines, avionics, accessories, and aerospace structures.
With a market capitalization of Rs 3.53 lakh crore, the shares closed at Rs 5,278.35 per share decreased by around 0.08 per cent as compared to the previous closing price.
Bharat Forge Ltd.
Bharat Forge Limited is an India-based global manufacturer of safety and essential components and solutions for a variety of industries, including automotive, railroads, defence, construction and mining, aerospace, marine, and oil and gas. Forgings and Others are among the company’s business segments.
With a market capitalization of Rs 77,848.06 crore, the shares closed at Rs 1,672.05 per share decreased by around 0.56 per cent as compared to the previous closing price.
Written by:- Abhishek Singh
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