Defence stocks jump up to 10% on hopes of securing Rs 30,000 crore order from DAC

Defense stocks in Tuesday's trade have once again gained traction amid hopes of cracking an order worth Rs 30,000 crore from the Defence Acquisition Council or DAC. The order for Air to Missile is expected to be bagged for the Indian armed forces.

The Defence Acquisition Council is slated to meet in the 4th week of the ongoing month.

On the news, stocks from the defence pack surged up to 10 per cent. As at the last count at around 10:38 am, NIBE Ltd was up as much as 9.57 per cent, while others including the likes of Data Patterns, Astra Microwave Products and Hindustan Aeronautics among others were up between 2-4 per cent.