Shares of Mazagon Dock, Hindustan Aeronautics (HAL) and Bharat Dynamics hit fresh 52-week highs while Bharat Electronics, Cochin Shipyard, Bharat Forge and MTAR Technologies were trading in the green at 1 pm today.
Mazagon Dock shares, which are on a dream run, hit a 52-week high of Rs 1,062 on the NSE. The stock has seen an uninterrupted run over the past eight trading sessions, gaining nearly 40% during this time.
HAL shares hit a 52-week high of Rs 3,399. Today’s gains were on the back of rallies over the previous three trading sessions.
Bharat Dynamics shares scaled a 52-week peak of Rs 1,191. The stock has rallied for six successive sessions till today.
Bharat Electronics which was trading up by 1.4% around this time. Bharat Forge, Cochin Shipyard and MTAR Technologies were up between 0.33% and 1.70%.
Bharat Heavy Electricals shares fell over 2%. The agreement will fast-track technology cooperation and co-production in areas including air combat and land mobility systems, the “undersea domain”, and intelligence, surveillance and reconnaissance, an AFP report said, quoting a statement issued by the US Defense Department.
The initiative “aims to change the paradigm for cooperation between US and Indian defence sectors”, it said, and “could provide India access to cutting-edge technologies and support India’s defence modernisation plans”.
Moscow and New Delhi have been allies for decades, with Russia by far India’s biggest arms supplier, the AFP report said.
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