These 10 defence stocks surged up to 446% in a year. Do you own any?

Indian defence stocks have witnessed a bull run in Dalal Street in the last one year. Data available from corporate database ACE Equity shows that as on April 26, the Nifty India Defence index has surged 142% in 12-month period. The defence index has significantly outperformed the equity benchmark Nifty50 that has given a return of 26% in the same duration. In this period, 14 out of total 15 stocks of Nifty India Defence index have given positive returns to the investors. Out of that, 10 select stocks have gained over 100% and have doubled investors’ money.

India’s major warship maker, Cochin Shipyard is the biggest gainer. Its share price has surged 442% to Rs 1,352 apiece on April 26, 2024 from Rs 249.5 on April 26, 2023. It has gained 55% in the last one month alone. Cochin Shipyard has a current market capitalization (m-cap) of Rs 35,570 crore.

Another stock, Zen Technologies, has jumped 246% to Rs 1,016.8 from Rs 294.1 a year ago. It has also given 6% return in the one-month period. Zen Technologies has a current market capitalization of Rs 8,546 crore.

Mazagon Dock Shipbuilders is number third in this list; it has given 224% return in a year as the stock closed at Rs 2,408.6 on April 26, and has latest m-cap of Rs 48,578 crore. The stock has gained 29% in a month.

Hindustan Aeronautics Ltd. is at the fourth spot with a 180% annual return. While the one-month return stands at 20%, this aerospace and defence company’s latest stock price is Rs 3,984.4 and an m-cap of Rs 2.67 lakh crore.

Astra Microwave Products has gained 142% in last one year and 19% in this month. The latest share price stands at Rs 710.5 and the company has an m-cap of Rs 6,746 crore.

Bharat Electronics (135%), Solar Industries India (133%), Mishra Dhatu Nigam (125%), Garden Reach Shipbuilders & Engineers (119%), and Bharat Dynamics (103%) are other top gainers in the defence sector which has doubled the investor’s money in just one year.

The combined total revenue of 15 defence stocks in the nine months period 9MFY24 stands at Rs 47,713 crore and a profit after tax of Rs 8,563 crore. Revenues have grown 8%, while profit rose 27% year-on-year. Hindustan Aeronautics (Rs 3,074 crore), Bharat Electronics (Rs 2,157 crore) and Mazagon Dock Shipbuilders (Rs 1,182 crore) are three most profitable defence companies in FY24 so far.