Defence stocks jump by up to 18% as India's defence production hits record ₹1.78 lakh crore

Shares of defence companies rallied on Wednesday after Defence Minister Rajnath Singh announced that India's defence production reached an all-time high of ₹1.78 lakh crore in FY26. The shares of Paras Defence and Space Technologies jumped by 18.10%, Bharat Dynamics by 5.96%, and HAL by 4.79%. The shares of Mazagon Dock Shipbuilders rose by 3.44% and Bharat Electronics Ltd by 3.06%.