52 Week High Stocks: These 4 stocks rose for the fourth consecutive day, reached the top of 52 weeks

News Topical, Digital Desk : 52 Week High Stocks: Shares of domestic defense companies are rising for the fourth consecutive session on Tuesday. The main reason for this rally includes Bharat Electronics Ltd (BEL) touching a new 52-week high after the announcement of a new order.

Public sector Navratna company BEL has secured new orders worth ₹528 crore since June 20, which include radars, communication systems, electronic voting machines (EVMs), jammers, shelters, control centers, spare parts and related services.

Which stocks rose?
The Nifty India Defense Index registered a gain of more than 1% in intraday trade and has risen by more than 3% in the last four sessions.

Apart from this, shares of Bharat Dynamics Ltd and DCX Systems rose up to 2%, while shares of Hindustan Aeronautics Ltd (HAL), Paras Defence and Space Technologies, Mazagon Dock Shipbuilders, and Garden Reach Shipbuilders & Engineers jumped up to 1.5%.

Reason for increasing budget A major reason behind this rally is the decision of NATO member countries on June 25 to increase defense spending to 5% of GDP by 2035, which is currently 2%. This step has been taken with the aim of increasing civil and military strength to face emerging security challenges. This will increase export opportunities and joint venture possibilities for Indian defense production. Additionally, India is moving towards increasing its surveillance capabilities after Operation Sindoor. Under this, there is a plan to launch 52 dedicated satellites for the armed forces and prepare a comprehensive military space doctrine. The Defense Research and Development Organization (DRDO) is also working fast on the advanced edition of the Agni-5 missile system, which will be capable of carrying heavy conventional bunker-busting warheads. 

What do experts say? According to experts, the increase in global defense budget and the development of India's indigenous defense capabilities will keep the shares of Indian defense companies strong. In the last 6 months, many stocks of the defense sector have registered a gain of more than 15%, making this sector attractive for investors.

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