Indian Defence Stocks Rise on Prospects of India-Israel Defence Technology Deal

Defence stocks in India, including Bharat Electronics, Bharat Dynamics, Hindustan Aeronautics, and Astra Microwave Products, rallied up to 5% amid Prime Minister Narendra Modi's February 2024 visit to Israel. The surge reflects investor optimism about a potential India-Israel defence agreement focusing on technology transfer and joint ventures in missile defence and advanced weapons systems. The deal aims to deepen strategic ties and support India's self-reliance in defence manufacturing under the Make in India initiative.