HAL, BDL, Mazagon Dock: These Defence Stocks Closed Higher Today On This Important Update; Details Here

Defence stocks shined on Friday despite sluggish trading in the Indian equity market. The share price of three defence stocks including Hindustan Aeronautics Ltd (HAL), Bharat Dynamics Ltd, and Mazagon Dock was up 4.40%, 4.91%, and 2.44% at market close today. In the intraday trading, the stock price of these three stocks gained almost 5% after media reports highlighted that the government is set to give a preliminary nod to three mega indigenous projects worth approximately Rs 1.4 trillion.

According to a media report, the three projects include manufacturing of another aircraft carrier, 97 more Tejas MK1A fighters (worth approx 55,000 crore), and 156 Prachand light combat helicopters, worth approx 45,000 crore. As per the report, Defence Acquisitions Council is likely to take up the AoN (acceptance of necessity) for the three projects at a meeting slated on November 30.

Meanwhile, India is also planning to build a second indigenous aircraft carrier, IAC-2, following the success of INS Vikrant (IAC-1).

The proposed carrier, estimated for around Rs 40,000 crore, will be a "repeat order" of the 44,000-tonne INS Vikrant.

HAL share price:

On Friday, HAL shares closed 4.40% at Rs 2241.95 per share. The company has a market cap of 1,49,936.01 crore. In the last one year, the stock has gained 64.37%, while the stock's year-to-date (YTD) performance is up 76.49%. Today, HAL stock traded on new 52 Week High value at 2250.00 and saw a spurt in Volume by more than 3.82 times.

BDL Share price:

Today, BDL shares closed 4.91% higher at Rs 1160.05 per share. In the last one year, the stock has gained 20.16%, while the stock's year-to-date (YTD) performance is up 22.94%.

Mazagon Dock Shipbuilders share price:

On Friday, Mazagon Dock Shipbuilders shares closed 2.44% at Rs 2039.15 per share. In the last one year, the stock has gained 131.26%, while the stock's year-to-date (YTD) performance is up 158.74%. Mazagon Dock is a multibagger stock, as the company has delivered over 100% returns to shareholders when it comes to last one year, 2 years and YTD performance.