Defence News

Putin's visit to India for the 23rd summit highlighted a new economic cooperation program aiming for $100 billion in trade by 2030. The partnership is set to enhance sectors like defense, energy, and manufacturing while addressing geopolitical challenges.

Putin India Visit: Market participants will be keenly watching out for the outcomes of the bilateral talks between the leaders and any significant agreements that may be reached on the defence front, especially regarding the acquisition of advanced missile defence systems and fighter jets.

On Tuesday, Dassault Aviation stock was trading nearly a percent higher at 267.60 euros. The jet maker stock has been under performing lately as it has descended over 6.32% in a month and 17.18% in past six months.

Shares of Lockheed Martin had ended 4% lower at $439.19 on the NYSE on December 1, as investors booked profits after a three-day rally. On a monthly basis, the F-16 fighter jet maker's stock witnessed a decline in November (down 6.9%) and October (1.47%).

Apollo Micro Systems gained 3% after receiving an Industrial Explosives and Manufacturing License, allowing the production of strategic defence products. This approval strengthens its eligibility for Ministry of Defence contracts and supports its expansion in India's defence manufacturing sector.

Bharat Dynamics is expected to attract investor interest after securing a ₹2,462 crore order from the Indian Army for missiles. Earlier in mid-November, the company had signed a contract worth ₹2,096 crore with the Ministry of Defence for the supply of Invar anti-tank missiles.

Apollo Micro Systems has expanded its capital by converting warrants into 1,21,47,964 equity shares for six investors. The company's paid-up equity capital now stands at ₹35.43 crore after this conversion, with a total of 2,08,59,246 warrants converted so far.

The small-cap defence stock has been under pressure lately as it has remained flat in last one month and has descended 11.59% in six months. However, the defence stock delivered nearly 39% returns in last one year and 191% since its listing.

Zen Technologies share price has gained just 1% in one month, but the smallcap stock has fallen 6% in three months, and has declined 25% in six months. The defence stock has dropped 43% on a year-to-date (YTD) basis and has fallen 22% in the past one year.