GRSE, Mazagon Dock, BEL, other PSU Defence Stocks rallied over 5%; Check Why?
Defence Ministry and the French Ambassador to India will represent the two sides at the signing event. Defence Secretary Rajesh Kumar Singh is expected to represent the Indian side.
New Delhi: Major PSU Defence Stocks have been surged over by significant ratio as the Indian Governmnet is all set to sign a defence deal with France for the procurement of 26 Rafale Marine fighter aircraft. As per the sources, the officials from the Defence Ministry and the French Ambassador to India will represent the two sides at the signing event. Defence Secretary Rajesh Kumar Singh is expected to represent the Indian side.
Shares of GRSE are up by 8.73%, Bharat Dynamics up by 4.49%, Mazagon Dock up by 4.3%, Cochin Shipyard by 6%, Bharat Electronics by 2.3% and while that of HAL by 5.01%.
The Indian Navy's requirements will be taken into consideration when designing and preparing the 26 Rafale Marine aircraft, of which 22 will be single-seaters and four will be double-seaters.
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The Navy's strength will increase significantly with the introduction of Rafale Marine aircraft, which will be used in aircraft carriers such as INS Vikramaditya and INS Vikrant. Rafale will have cutting-edge missiles and weaponry.
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