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India-Pakistan tensions: Defence stocks surge over 5% as Operation Sindoor continues

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The defence allocation in India’s budget for FY2026 is set at Rs 6.81 lakh crore. (AI image)

Operation Sindoor impact on defence stocks: Defence-related stocks on Friday saw significant gains, with companies like Hindustan Aeronautics and Bharat Forge showing increases of up to 4% amid escalating tensions between India and Pakistan.Paras Defence recorded the highest increase, reaching an intraday peak of Rs 1,436.00, a 5.65% rise on the NSE. Bharat Dynamics followed with a 4.955% increase, reaching Rs 1,525.70 . Bharat Forge saw a 4.89% rise. BEL and HAL shares increased by 2.7% and 2.4% respectively. The increased interest in defence stocks coincided with news of an upcoming meeting between the Modi government and defence manufacturers. When questioned about possible government requests to increase production due to rising Pakistan tensions, Bharat Forge’s Chairman and Managing Director, Baba Kalyani, stated to CNBC TV18, “We’ve been called to Delhi next week. Our team is going. I can’t say more.”This situation follows recent Indian military operations in Pakistan and Pakistan-occupied Kashmir.Also Read | Operation Sindoor: Can Pakistan economically afford a protracted conflict with India as tensions escalate? Here’s a reality checkThe defence allocation in India’s budget for FY2026 is set at Rs 6.81 lakh crore, with Rs 1.8 lakh crore designated for capital expenditure.Heightened tensions persist after India conducted strategic missile strikes on May 6-7, neutralising nine terrorist installations across Pakistan and Pakistan-occupied Kashmir. During an all-party conference on May 8, Defence Minister Rajnath Singh acknowledged Operation Sindoor’s success, confirming the elimination of approximately 100 terrorists. He maintained discretion regarding additional operational specifics.Pakistan launched an offensive on Thursday evening, deploying loitering munitions against strategic locations in Jammu and Kashmir. Indian forces countered by deploying air defence systems to neutralise the incoming threats.The situation intensified as Indian air defence systems engaged Pakistani drones across Jammu and Kashmir regions, resulting in multiple explosions. Authorities implemented complete blackouts in several districts, including Bikaner, Rajasthan, and Jalandhar, Punjab, whilst emergency sirens prompted residents to seek shelter.

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