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Mazagon Dock, Bharat Dynamics shares fall up to 6% after $5 billion rally in two weeksIn the early hours of Wednesday, strikes by the Indian Armed forces were carried out on nine terror locations across Pakistan and Pakistan-occupied Kashmir. The Indian government sources have mentioned that no IAF plane involved in "Operation Sindoor" was shot down or damaged during the retaliatory strike.By Hormaz Fatakia   May 7, 2025, 1:46:23 PM IST (Updated)2 Min ReadShares of India's defence companies, Hindustan Aeronautics Ltd., Bharat Dynamics Ltd., Bharat Electronics Ltd., along with shipbuilders like Mazagon Dock Shipbuilders Ltd., Cochin Shipyard Ltd. and Garden Reach Shipbuilders are trading with losses after a strong rally over the last few weeks.

Shares of Mazagon Dock Shipbuilders are trading with losses of close to 6%, while those of its peers, Cochin Shipyard and Garden Reach Shipbuilders are down between 2% to 3%.

Shares of Bharat Dynamics are also seeing some profit booking, trading with losses of 5%. Most of the other defence stocks have also given up early morning gains.

Hindustan Aeronautics is the leading manufacturer of aircraft and helicopters, while Bharat Dynamics is a leading manufacture of ammunition, counter measures dispensing infra and missile systems.

In the early hours of Wednesday, strikes by the Indian Armed forces were carried out on nine terror locations across Pakistan and Pakistan-occupied Kashmir. The Indian government sources have mentioned that no IAF plane involved in "Operation Sindoor" was shot down or damaged during the retaliatory strike.

The government sources also said that strikes on all nine targets were successful.

"We have no direct exposure, maybe some indirect exposure. But the reality is that on a global basis, given that the US is becoming a less reliable security umbrella for a lot of parts of the world, whether it's in Europe or it's in Japan or it's in Korea, or it's in the Indian subcontinent, or elsewhere - the Middle East. I think defence spending is on a structural rise as the world becomes a more dangerous place. And frankly, the flip side of that is that stock market multiples globally, and don't necessarily do great if there's more global risk intentions of war, but certainly defence would be an area that should structurally benefit from this," Arvind Sanger of Geosphere Capital Management told CNBC-TV18.

According to Bloomberg data, Defence stocks over the last two weeks had added nearly $5 billion to their market capitalisation, with stocks like Mazagon Dock hitting record high levels.Continue ReadingFirst Published: May 7, 2025 8:48 AM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsBharat DynamicsBharat Electronics (BEL)Cochin Shipyarddefence stocksGarden Reach ShipbuildersHindustan Aeronautics Ltd (HAL)Mazagon Dock Shipbuildersshare market today