Defence stocks rallied up to 4% on Tuesday after Prime Minister Narendra Modi called for greater military self-reliance, following India’s launch of Operation Sindoor in response to the April 22 Pahalgam terror attack.The shares of Cochin Shipyard rose the highest by 3.7% to their day’s high of Rs 1,577.30 on the BSE, followed by Mazagon Dock Shipbuilders shares, which surged by 2.6% to Rs 2,979.90.
Meanwhile, the shares of Hindustan Aeronautics Ltd (HAL), Garden Reach Shipbuilders & Engineers (GRSE) and BEL rallied between 2-2.5%.
In his first address to the nation since the operation, PM Modi said India has demonstrated its strength in modern warfare and must now lead in defence innovation through indigenous technology.
“We have proven our dominance in new-age warfare,” Modi said. “We have always defeated Pakistan on the battlefield, and today we have demonstrated our superiority in modern warfare. The time has come for ‘Made in India’ defence equipment. We have adopted a zero-tolerance policy towards terrorism.”
Operation Sindoor not only avenged the Pakistan-sponsored terror attack but also served as a rare opportunity for India to showcase its military strength. The four-day 'near-war' featured a diverse mix of Russian, French, Israeli and indigenous hardware. However, what stood out was the successful deployment of India-made weapons and defence systems in a real combat scenario against a peer adversary.This has elevated the global credibility of India's defence industry. With indigenous systems now battle-tested, India may see greater interest from international buyers — potentially turning Operation Sindoor into a powerful promotion for 'Make in India' weaponry.
