Indian defense shares rise following increased tensions with Pakistan – Bloomberg
India's defense companies have seen a significant increase in market value, adding over $5 billion due to heightened tensions with Pakistan, according to Bloomberg. New Delhi has accused Islamabad of sheltering terrorists connected to a deadly...
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India's defense companies have seen a significant increase in market value, adding over $5 billion due to heightened tensions with Pakistan, according to Bloomberg.
New Delhi has accused Islamabad of sheltering terrorists connected to a deadly mass shooting that claimed the lives of 26 civilians in Kashmir last month. In response, India announced on Wednesday that it launched attacks on nine “terrorist infrastructure” sites across the border in Pakistan.
A specialized market index monitoring ten Indian defense firms indicates a growth of approximately 5% since the April 22 terrorist attack “amid expectations that these firms stand to benefit from the worsening geopolitical situation,” Bloomberg reported on Wednesday. Among these firms are Hindustan Aeronautics Ltd., known for aerospace, and Solar Industries India Ltd., a missile manufacturer.
As of Wednesday, Mumbai-based Mazagon Dock Shipbuilders Ltd. experienced a rise of up to 4.6%, while Hindustan Aeronautics saw an increase of nearly 2%.
In light of the escalating tensions with Pakistan, Indian Prime Minister Narendra Modi has reportedly postponed his upcoming trips to Croatia, the Netherlands, and Norway. Additionally, he will not attend the international celebrations in Moscow commemorating the 80th anniversary of victory in World War II, with India instead being represented by an alternate high-level delegation.
Allen M Lee for TROIB News
New Delhi has accused Islamabad of sheltering terrorists connected to a deadly mass shooting that claimed the lives of 26 civilians in Kashmir last month. In response, India announced on Wednesday that it launched attacks on nine “terrorist infrastructure” sites across the border in Pakistan.
A specialized market index monitoring ten Indian defense firms indicates a growth of approximately 5% since the April 22 terrorist attack “amid expectations that these firms stand to benefit from the worsening geopolitical situation,” Bloomberg reported on Wednesday. Among these firms are Hindustan Aeronautics Ltd., known for aerospace, and Solar Industries India Ltd., a missile manufacturer.
As of Wednesday, Mumbai-based Mazagon Dock Shipbuilders Ltd. experienced a rise of up to 4.6%, while Hindustan Aeronautics saw an increase of nearly 2%.
In light of the escalating tensions with Pakistan, Indian Prime Minister Narendra Modi has reportedly postponed his upcoming trips to Croatia, the Netherlands, and Norway. Additionally, he will not attend the international celebrations in Moscow commemorating the 80th anniversary of victory in World War II, with India instead being represented by an alternate high-level delegation.
Allen M Lee for TROIB News
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