HAL, Astra Microwave to BEL – Defence stocks rally amid reports of IAF proposal for buying 114 Rafale jets

Hindustan Aeronautics (HAL), Bharat Defence (BDL), Astra Microwave Products, among other defence stocks rallied on Monday, despite a muted trend in the broader Indian stock market.

Astra Microwave Products, Cochin Shipyard, Data Patterns (India), and DCX Systems were among the top gainers in the Nifty India Defence index, rising 2–4% each. The index itself advanced nearly 1% in early trade.