Defence stocks jump up to 20% as govt sets ₹50,000cr export target

Defence stocks jumped up to 20% on Friday as Defence Minister Rajnath Singh reiterated the government's goal to export over ₹50,000 crore worth of defence equipment by 2028-2029. Shares of Paras Defence and Space Technologies and BEML rose 20% and 17%, respectively. Mazagon Dock Shipbuilders' shares jumped 14%, while Bharat Forge's shares rose 4.8%.