Bharat Dynamics, BEL, HAL lead rally on Mar 2; is more upside coming?Bharat Dynamics, BEL, HAL lead rally on Mar 2; is more upside coming?

Introduction

Defence stocks advanced sharply on Monday as Middle East tensions escalated following US-Israel strikes on Iran, while record funding data highlighted sector growth in India.

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Defence Stocks Rally Strongly

Shares of defence equipment makers including Bharat Dynamics, Bharat Electronics, Hindustan Aeronautics, Solar Industries, Data Patterns and Paras Defence traded higher in early deals on Monday, March 2, tracking sustained buying interest.

The NIFTY India Defence index rose over 1.5% to 8,249.70 levels. Seventeen of its eighteen constituents traded in positive territory during the morning session.

Middle East tensions escalate

Geopolitical risks intensified after coordinated strikes by the United States and Israel targeted Iran. The attacks resulted in the killing of Supreme Leader Ayatollah Ali Khamenei, heightening regional tensions.

Israel carried out additional strikes on Tehran on Sunday, while Iran responded with missile barrages. The developments increased uncertainty across global markets and triggered volatility in commodities.

Defence funding hits record

India’s defence technology sector recorded $247 million, about ₹2,270 crore, in capital inflows in 2025, marking its highest annual funding. Cumulative equity funding reached $711 million across 232 rounds.

Annual investments climbed from $5 million in 2016 to $247 million in 2025 year-to-date. Funding stood at $37 million in 2021, $75 million in 2022, $139 million in 2023, and $125 million in 2024.

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Defence stocks in India

Here are the defence stocks in focus in today’s market:

Bharat Dynamics

On March 2, 2026, Bharat Dynamics Ltd opened at ₹1,225.75, down 3.13% from its previous close of ₹1,265.35. The stock reached a high of ₹1,317.00 (4.08%) and a low of ₹1,225.75. By 11:13 AM, it traded at ₹1,275.25, up 0.78%, with a market cap of ₹46,846.69 crore.

Bharat Electronics

On March 2, 2026, Bharat Electronics Ltd opened at ₹442.00, down 0.55% from its previous close of ₹444.45. The stock reached a high of ₹456.80 (2.78%) and a low of ₹441.70. By 11:15 AM, it traded at ₹453.50, a 2.04% increase, with a market cap of ₹3,31,498.47 crore.

Hindustan Aeronautics

On March 2, 2026, Hindustan Aeronautics Ltd opened at ₹3,738.05, down 4.49% from its previous close of ₹3,914.00. The stock reached a high of ₹3,982.60 (1.75%) and a low of ₹3,738.05. By 11:14 AM, it traded at ₹3,950.65, a 0.94% increase, with a market cap of ₹2,64,206.25 crore.

Data Patterns (India)

On March 2, 2026, Data Patterns (India) Ltd opened at ₹3,140.20, down 2.13% from its previous close of ₹3,208.45. The stock reached a high of ₹3,349.95 (4.41%) and a low of ₹3,135.00. By 11:16 AM, it traded at ₹3,267.20, a 1.83% increase, with a market cap of ₹18,291.08 crore.

Paras Defence and Space Technologies

On March 2, 2026, Paras Defence and Space Technologies Ltd opened at ₹610.05, down 4.43% from its previous close of ₹638.30. The stock reached a high of ₹722.20 (13.14%) and a low of ₹610.05. By 11:16 AM, it traded at ₹711.30, an 11.44% increase, with a market cap of ₹5,732.18 crore.

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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.

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