News

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.

Also read: Anil Singhvi recommends 4 funds to play GST cut-driven consumption theme on Dalal Street

Add Zee Business as a Preferred Source

In Indian markets, several defence-related stocks saw sharp gains:

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.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

Senior Sub-editor at Zee Business English

shweta.shukla@India.com

Shweta Birendra Shukla is a journalist covering the stock market and corporate affairs, with prior stints at Business ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.