Defence stocks fire up! Paras Defence, BEL, GRSE, other stocks surge up to 24% in 2 days. What's powering the rally? (opens original article in a new tab)

Defence stocks in India surged up to 24% over two days amid record defence production and government initiatives for self-reliance in manufacturing.

• Defence stocks like Paras Defence and BEL rose 5-24% in two days due to record defence production in FY26
• India's indigenous defence production reached Rs 1.78 lakh crore in FY26, a 15.6% increase from the previous year
• PSUs accounted for 76% of total defence production, while private sector contribution rose to 24% in FY26
• Defence Minister Rajnath Singh highlighted India's strengthened national security architecture under PM Modi's leadership