Defense stocks rally: Indian defence stocks rallied significantly on August 22, fueled by mounting geopolitical tensions after Russia launched one of its largest air assaults on Ukraine—deploying 574 drones and 40 missiles—despite US overtures for a ceasefire. As a result, the Nifty India Defence index rallied nearly 1 per cent, reaching around 7,760.25.
According to Ukrainian President Volodymyr Zelenskyy, the extensive attack—which included a missile strike on a US-owned electronics factory—underscored Russia’s lack of commitment to peace talks. “They carry on with massive strikes,” Zelenskyy said, dismissing their intent to hold meaningful negotiations. Meanwhile, US President Donald Trump has advocated for a ceasefire and mentioned potential bilateral talks between Zelenskyy and Russian President Putin.
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DCX Systems soared around 10.5 per cent, trading at Rs 275.50 per share.
Solar Industries and Zen Technologies both climbed about 2 per cent.
Astra Microwave, HAL, BEL, and Paras Defence gained around 1 per cent each.
GRSE, BEML, and BDL also rose, registering marginal gains.
Experts are of the opinion that while defence sector stocks had softened amid optimism over peace talks, the sudden escalation has reignited investor interest in the space. Prolonged conflict tends to benefit defence manufacturers through increased government orders and heightened demand for domestic defence infrastructure.
