Stock market today: Despite the stock market crash on Wednesday, defence stocks that deal in war equipment saw strong buying interest in early morning trading. Tejas Networks’ share price, which provides critical communication infrastructure to the armed forces, surged by 8% during morning trading. Component provider to missiles and fighter jets, Paras Defence shares shot up around 8%; the leader in the anti-drone systems, Zen Technologies’ share price skyrocketed over 4%; the leading private player in industrial explosives and ammunition, Solar Industries India Ltd share price went up around 3%; and India’s leading drone maker, ideaForge Technology share price skyrocketed over 5%.
According to stock market experts, investors are looking at those stocks that serve as suppliers to leading defence companies. They said that the escalation in the US-Iran war is the major reason, and investors are now moving into core defence stocks that specialise during a war. As these companies assist leading defence companies in developing war equipment such as drones, fighter jets, and missiles, investors are betting heavily on them, despite weak trends on Dalal Street.
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