New Delhi: 

The stocks of defence companies soared following the recent India-Pakistan conflict in which ‘Made in India’ defence equipment showed exceptional performance. The shares further jumped after Prime Minister Narendra Modi on May 13 addressed the nation and aggressively pitched for promoting “Make in India” in the defence sector. He exuded confidence in the capabilities of Indian defence companies and called for working more towards the direction of self-reliance.

To avenge the dastardly Pahalgam terror attack, India launched Operation Sindoor, after which the shares of companies engaged in the defence sector recorded a tremendous rise. In just 12 trading sessions since April 25, 2025, the total market cap of these companies has reported an increase of Rs 1.22 lakh crore. Hindustan Aeronautics Limited (HAL) and Bharat Electronics Limited (BEL) have recorded the maximum increase in their market capitalisation. At the same time, Garden Reach Shipbuilders has shown the fastest growth on a percentage basis.

India’s defence exports increase

India has reported a surge in its defense products exports. The country exported products worth Rs Rs 23,622 crore in the financial year 2024-25, as compared to Rs 21,083 crore in 2023-24.
The Ministry of Defence in its release dated April 1, 2025, mentioned that the the Defence Public Sector Undertakings (DPSUs) have recorded a significant increase of 42.85 percent in their exports in the FY 2024-25. The surge in exports is an indication that the potential and efficiency of Indian defence equipment are being recognised in the global market. “The private sector and DPSUs have contributed Rs 15,233 crore and Rs 8,389 crore respectively in defence exports of 2024-25,” the release stated.

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