Defence shares surge; Nifty India Defence index climbs 3% led by GRSE, MTAR, Mazagon Dock

Defense stocks today: Defence counters were in demand on Friday, lifting the Nifty India Defence index almost 3 per cent to 7,922. Order wins, dividend record dates and surging trade volumes combined to push the sector sharply higher.

GRSE leads the surge with dividend record date

arden Reach Shipbuilders & Engineers (GRSE) was the top gainer on the index. Its share price jumped close to 6 per cent to Rs 2,490.20, with nearly 13 lakh shares changing hands — about twice the stock’s 10-day average volume. The day also marked the record date for GRSE’s Rs 4.9 per share dividend, prompting additional activity from investors looking to capture the payout.

MTAR Technologies rises on Bloom Energy orders

MTAR Technologies shares also rose nearly 6 per cent to Rs 1,619, supported by trading volumes three times their recent average. Earlier in the week the company disclosed it had won fresh orders worth $43.87 million (roughly Rs 386 crore) from Bloom Energy Corporation, which helped boost sentiment.

Other defence names join the rally

Several other defence names joined the rally. Astra Microwave Products advanced around 5 per cent, while Mazagon Dock Shipbuilders climbed more than 4 per cent; September 19 is the record date for its Rs 2.71 per share dividend. Paras Defence and BEML gained nearly 4 per cent each on heavy turnover. Paras Defence on 12 September announced incremental orders worth Rs 26.6 crore from Opto Electronics Factory for electronic control systems used in tank fire-control systems for the Indian Armed Forces.

Broader sectoral gains and outlook

Bharat Dynamics (BDL) and Hindustan Aeronautics (HAL) added around 3 per cent each. BDL has fixed September 19 as the record date for its Rs 0.65 per share dividend. Among other movers, Solar Industries, Cochin Shipyard and Bharat Electronics (BEL) were up more than 2 per cent apiece. Cochin Shipyard’s Rs 2.25 per share dividend record date also falls today.