GRSE Share Price Surges as Defence Stocks Rally on Order Wins and Dividends
The defence sector was in the spotlight in the stock market today. Both GRSE share price and Mazagon Dock share price went up, which brought smiles on the faces of investors. On September 12, a massive rally was witnessed in the stocks of defence companies and the Nifty India Defence index also jumped by almost 3%. All this happened due to order wins and dividend announcements, which is creating a positive sentiment in the market.
Tremendous Jump in GRSE Share Price
Garden Reach Shipbuilders & Engineers (GRSE) shares were the top gainers in today’s trading session. GRSE share price jumped by almost 6% to reach ₹ 2,490.20 per share. As per NSE data, more than 13 lakh shares were actively traded, which is almost double the 10-day average of the stock. This clearly shows that there is strong demand for GRSE share price. Today was also the record date for GRSE dividend, in which eligible shareholders will get a dividend of ₹ 4.9 per share. This became an extra boost for GRSE and investors seemed very excited about it.
Mazagon Dock Share Price and Dividend Buzz
Mazagon Dock Shipbuilders is also not lagging behind. Mazagon Dock share price gained more than 4% today. Another good news for the shareholders of the company is that the record date for dividend has been fixed on 19 September, in which a dividend of ₹ 2.71 per share will be given. Due to this, strong buying interest was also seen in Mazagon Dock share price. Within the defense sector, this company is always considered a safe bet for investors due to its strong order book and government projects.
Strong order win for MTAR Technologies
MTAR Technologies is also in the spotlight, where the stock was seen trading at ₹ 1,619 per share, rising by almost 6%. The company announced this week that it has received orders worth $43.87 million (approx ₹ 386 crore) from Bloom Energy Corporation. After this announcement, MTAR volumes rose three times its 10-day average. This is a clear signal that the market has full confidence in the company’s growth prospects.
Strong performance of Paras Defence and BEML
Paras Defence shares also jumped by about 4% when the company announced that it has received orders worth ₹26.6 crore from Opto Electronics Factory (OLF). These orders have been given to supply Electronic Control Systems for Battle Tank applications of Indian Armed Forces. This news gave extra momentum to the share price of Paras Defence. A similar rally was also seen in BEML shares, which boosted sectoral sentiment and strength.
Growth of Astra Microwave, Bharat Dynamics and HAL
Shares of Astra Microwave also rose close to 5%, while Bharat Dynamics and Hindustan Aeronautics (HAL) jumped up to 3%. Bharat Dynamics has also declared a dividend whose record date is 19 September, and shareholders will get a dividend of ₹0.65 per share. These dividend announcements are becoming an added attraction for investors, as along with dividend, share price appreciation is also happening. Strong performance of major defense stock like HAL is a positive sign for the entire industry.
Contribution of Solar Industries, Cochin Shipyard and BEL
Shares of Solar Industries, Cochin Shipyard and Bharat Electronics (BEL) also saw a growth of more than 2%. Today was also a record date for dividend for Cochin Shipyard, in which eligible shareholders will be given a dividend of ₹2.25 per share. Due to this, heavy volumes and strong demand were seen in Cochin Shipyard shares.
Overall Strength of Defence Sector
Today it was seen quite clearly that there is a fresh wave of buying interest within the defence sector. Be it GRSE share price or Mazagon Dock share price, both the stocks gave handsome returns to their investors. Order wins and dividend payouts have made the market even more attractive. Along with this, heavy trading volumes are once again reinforcing that institutional investors are also trusting these stocks.
Another reason for this momentum is the growth story of India’s defence manufacturing. Government’s push, “Make in India” initiative, and focus on defence exports have made the future of this sector quite promising. For this reason, retail investors are also showing interest in defence stocks and this sector can become a safe and growth-oriented bet for the long-term.
Disclaimer:
All the information given in this article is based on publicly available stock exchange data and official announcements. Stock market and IPO investments always come with risk. Please seek advice of your financial advisor before taking any investment decision.
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