Defence stocks in limelight; zoom up to 10 per cent

NEW DELHI: Shares of companies related to the defence sector zoomed up to 10 per cent in early trade on Monday after the government said it will relax foreign direct investment norms in defence manufacturing by allowing 74 per cent FDI under the automatic route.

Bucking the overall weak broader market trend, shares of Hindustan Aeronautics jumped 10 per cent, Bharat Electronics rose 5.53 per cent, BEML advanced 5.31 per cent, Astra Microwave Products surged 4.93 per cent and Bharat Dynamics was trading up 4.71 per cent on the BSE.