Indian stock market today: Shares of Bharat Electronics, Bharat Dynamics, Mazagon Dock Shipbuilders, BSE, and Hitachi Energy India are among 23 Nifty 500 stocks that recorded fresh 1-year highs this week, as sentiment improved on Dalal Street—driven by both domestic and global cues—prompting investors to shift back to equities.
The rally was led by defence stocks, as their demand surged following renewed tensions between India and Pakistan. Even though the conflict has paused, the rally in defence stocks has continued, driven by expectations that India will expand its defence spending further.
After delivering hefty returns to investors during the first half of the last calendar year, defence stocks witnessed profit booking due to concerns over valuations and a slowdown in orders. However, they have managed to regain momentum this month, with names like Mazagon Dock Shipbuilders and Bharat Electronics continuing to break records with each passing day, as the successful display of India’s indigenously developed systems against the adversary last week.
The Indian government has taken several policy initiatives in recent years and introduced reforms to encourage indigenous design, development, and manufacturing of defence equipment, thereby promoting self-reliance in defence production.
Further, demand for Indian-made defence products has received strong interest from other countries, with defence exports surging to a record high of ₹23,622 crore (approximately USD 2.76 billion) in the financial year 2024–25.
Bharat Dynamics, Mazagon Dock, and Bharat Electronics scale new 1-year peaks
Amid these positive developments, Mazagon Dock Shipbuilders share price touched a new 52-week high of ₹3,230 apiece during Wednesday’s trading session, gaining 38% in 2025 so far. Likewise, Bharat Electronics share price surged 4.2% in the previous session to hit a new 1-year peak of ₹346 apiece.
Bharat Dynamics was another defence stock that climbed 2% to record a new 52-week high of ₹1,820.90 apiece. Solar Industries share price also touched a 52-week high of ₹13,910.
| Scrip Name | 52-week high price |
|---|---|
| Authum Investment & Infrastructure | ₹2,156.85 |
| APL Apollo Tubes | ₹1,766.40 |
| JK Cement | ₹5,362.20 |
| Dalmia Bharat | ₹2,080 |
| Bharat Electronics | ₹3,46.95 |
| Max Financial Services | ₹1,351 |
| Solar Industries India | ₹13,910 |
| CEAT | ₹3,960 |
| City Union Bank | ₹196.25 |
| Mazagon Dock Shipbuilders | ₹3,230 |
| Bharat Dynamics | ₹1,820.90 |
| Source: Trendlyne | |
As defence stocks continue to roar, the Nifty India Defence Index has jumped nearly 9% in May so far, outperforming all sectoral indices as well as the Nifty 50 and Sensex, which have gained over 1.5% during the same period.
Apart from defence names, financial stocks have also garnered significant interest, with stocks such as ICICI Bank, City Union Bank, Max Financial Services, Authum Investment & Infrastructure, and SBFC Finance seeing notable movement, recording fresh 52-week highs.
Other Nifty 500 constituents, including APL Apollo Tubes, JK Cement, Dalmia Bharat, Godfrey Phillips India, Ceat, Aster DM Healthcare, Bharti Hexacom, Hitachi Energy India, Coromandel International, Redington, and Vishal Mega Mart, also recorded their respective 52-week highs this week.
Will Dalal Street’s uptrend continue or face a pullback?
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said, “The market appears to be heading for a near-term consolidation phase with the mid- and small caps outperforming. The sustained, robust FII buying that lifted the large caps is likely to weaken in the new context of a trade deal emerging between the US and China. The possibility of a ‘Sell India; Buy China’ tactical FII trade cannot be ruled out now. This will weigh on large caps and strengthen the case for further rally in mid- and small caps, despite the valuation concerns.”
“The defense stocks are again witnessing renewed buying after the prime minister’s appreciation of the performance of made-in-India defense weapons. The medium- to long-term prospects of defense companies, particularly those of exporters, look bright. However, the valuations of these stocks are high, and, therefore, investors have to be cautious,” he further added.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
